y budget for cybersecurity according to ENISA (2012), assignment help

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y budget for cybersecurity according to ENISA (2012), assignment help

Critique needed:

Cooperation find it hard to appropriately budget for cybersecurity according to ENISA (2012). These organizations often find it increasingly difficult to measure the effectiveness of information security activities and therefore fail to properly invest. “The reason for this is that security is not usually an investment that provides profit” but rather an investment in loss prevention as reported by ENISA (2012). The excessive use of cyberspace by cooperate America has led to the number of successful cyberattacks against company’s mission critical infrastructure more than doubling over the last 10 years according to Cabrera (2016). Red Clay Renovations use of “smart home” and “Internet of things” technologies make them a big target for hacks seeking to exploit the vast amount of customer Personnel Identifiable Information (PII) they collect, process, store and transmit. According to King (2016) the information collected includes information obtained from credit checks and information about customer’s families. This brief is written to educate Red Clay Renovations Board of Directors (BoD) on the planning (what we need to do), programming (how will we do it) and budgeting (how we will pay for it) needed to protect its critical infrastructure, Minimize exposure and Neutralize attacks.

The financial investment needed to protect Red Clay Renovations can be categorized as people, process and technology. People investment include the hiring of a cyber security workforce and ensure they have continuing education to ensure they stay current. Investments in process include ensuring Red Clay Renovations follows “best practices” like using proper password policies and installing and keeping up to date virus and intrusion detection software according to Shaw (2011). Investments in Technology include ensure Red Clay Renovations has the best hardware and software on the market as reported by Money Morning staff (N.D.)

Red Clay Renovation has several areas of concern / risk that could benefit from a financial investment on cybersecurity.

  1. Red Clay Renovations Employees – According to King (2016), Red Clay Renovations employs Information Techs to help renovate buildings and dwelling using modern technology (smart home and Internet of Things). It would be in the company’s best interest to invest in the continued education of these employees.
  2. Enterprise Architecture – Red Clay Renovations has an architecture that includes interconnections between the company’s field offices and the operations center. Each facility-to-facility interconnection is made via a Virtual Private Network (VPN). The VPN connects the Local Area Networks (LANs) in the operations center and the field offices to the company’s enterprise network. It would be in Red Clay Renovations best interest to make an investment in technology to strength its Enterprise Architecture.
  3. Risk Management & Reporting – Red Clay Renovations engages in a formal risk management process which includes identification of risks, assessment of the potential impact of each risk, determination of appropriate risk treatments (mitigation, acceptance, transfer), and implementation of the risk management strategy which is based upon the selected risk treatments. It would be in Red Clay Renovations best interest to invest in process like Risk management & reporting.
  4. IT Security Management – Red Clay Renovations Chief Information Security Officer (CISO) provides management oversight and technology leadership for the company’s Information Technology security program. This program is designed around the ISO 27001/27002 requirements but is not fully compliant.
  5. Hardware – Red clay Renovation’s operations center and field offices each have their own network infrastructure built on CISCO branded equipment (Virtual Private Network (VPN), wired and wireless local area networks, wireless access points, switches, a premise firewall, and intrusion detection system). Offices and server rooms have RJ-45 wall jacks for 100BaseT “wired” connections to the local area network. It would be in Red Clay Renovation best interest to invest in the best Technology to help protect the company’s critical infrastructure and data.

Red Clay Renovations budget should also include measures to Minimize exposure and Neutralize attacks. According to Manning (2015) the best way for the company to improve in both areas would be to invest in the following best practices:

  1. Creating Internal policies,
  2. keeping their computers updated,
  3. using cloud services,
  4. Increasing employee awareness

In Conclusion, Red Clay Renovations has to budget for investment in Cybersecurity if they plan to remain successful. While the company’s BoD may not see an immediate return on their investment, they will save hundreds of thousands of dollars in the prevent of successful cyberattacks.

References

Cabrera, E. (2016, January 22). Critical Infrastructure Under Attack: The Vulnerability of Converged IT-ICS Networks. Retrieved from trendmicro.com: http://blog.trendmicro.com/the-growing-concern-of-cyber-attacks-on-critical-infrastructure/

ENISA. (2012, December ). European Network and Information Security Agency . Retrieved from UMUC: https://learn.umuc.edu/d2l/le/content/170372/viewContent/7211811/View

King, V. J. (2016, Feb 30). CSIA 413 Case Study for Red Clay Renovations (Student Version). Retrieved from UMUC.EDU: https://learn.umuc.edu/d2l/le/content/170372/viewContent/7211604/View2016

Manning, K. (2015, June 15). 8 Ways Businesses Can Prevent Cyber Attacks . Retrieved from Business 2 Community : http://www.business2community.com/cybersecurity/8-ways-businesses-can-prevent-cyber-attacks-01251164#UhXmMtlf5xVvKqGP.97

Money Morning Staff. (N.D.). How to Invest in Cybersecurity . Retrieved from Money Morning.com: http://moneymorning.com/2013/02/25/how-to-invest-in-cybersecurity/

Shaw, R. (2011, Jun 27). Investing in Cybersecurity . Retrieved from seeking alpha.com: http://seekingalpha.com/article/276726-investing-in-cyber-security

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