Cyber Risk Assessment

Structured cyber risk assessments are mandatory under NIS2, DORA and ISO 27001 — and the basis for all TPRM decisions.

Cyber risk assessment is the systematic analysis and quantification of cyber risks — as the basis for risk treatment decisions and regulatory compliance.

Methods for cyber risk assessment

Proven methods: (1) qualitative assessment — a risk matrix combining likelihood × impact (high/medium/low), (2) quantitative assessment — monetary quantification of risk (e.g. the FAIR methodology), (3) hybrid approach — qualitative assessment supported quantitatively by external scores, (4) scenario-based assessment — analysis of specific attack scenarios. For TPRM purposes, a scalable hybrid approach combining external data (360TPRM) with internal expertise is recommended.

Automated plus human judgement

360TPRM delivers the objective data points for cyber risk assessment. Human judgement on business context and risk appetite is added on top.

Cyber risk assessment at suppliers

For suppliers, cyber risk assessment covers: external security assessment (cyber risk score), criticality assessment (how important is this supplier?), dependency analysis (what happens if it fails?), compliance status (ISO 27001, SOC 2?), incident history, and an overall assessment and risk classification.

No assessment, no prioritisation

Companies with 100+ suppliers can't monitor all of them with the same intensity. Cyber risk assessment determines which suppliers get which monitoring intensity.

FAQ

How often does a cyber risk assessment need to be carried out?+

For critical suppliers: continuously (automated via 360TPRM) plus an annual formal review. For other suppliers: at least annually and on material changes.

Do cyber risk assessments need to be documented?+

Yes — NIS2, DORA and ISO 27001 all require documented evidence. 360TPRM automatically generates audit-ready reports.

Automate cyber risk assessments

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