How to Develop a Robust CIRMP for Your Business: A Step-by-Step Guide

Business
Lalitha
December 23, 2023
0
14 minutes read

In today’s increasingly interconnected world, businesses face a complex risk landscape ranging from cyber threats to supply chain disruptions. Developing a robust Critical Infrastructure Risk Management Plan (CIRMP) has become essential for safeguarding operations.

This article provides a comprehensive, step-by-step guide to creating an effective CIRMP tailored to your business’s unique needs.

Understanding the Importance of CIRMP

The digitized business environment offers tremendous efficiency but also introduces vulnerabilities. The global average cost of a data breach was $4.35 million in 2023, a 15% increase over three years. With stakes this high, having a CIRMP provides financial, operational, and reputational protection.

Initial Assessment: Identifying Risks

The first step under the SOCI Act is for companies to complete an initial assessment. This assessment identifies the cyber risks applicable to their vital systems. Refer to the data chart below, which illustrates the likelihood of breaches by industry:

Data Source: SC Magazine Cyber Risk Report

What Systems to Assess

Assess digital systems essential to key operations. These systems are likely to contain sensitive data.

Examine systems managing key infrastructure that communities rely on every day.
Focus on technological areas such as IT networks, operational control systems, critical data storage, and more.

Gathering Information

Assess the true state of cyber defenses across vital company systems.

Figure out what data lives on each system component and its sensitivity.

Evaluate the strength of access controls for accounts and privileges.

Evaluating Cyber Maturity

Measure current policies, plans, and actions to handle cyber risks.
Assess the current level of advanced cybersecurity capabilities.
Verify whether existing defenses align with modern best practices.

Judging Risk Impacts

Evaluate potential national harm if systems are compromised in an attack.

Assess the impact on communities from disrupted infrastructure services.

Ranking Risk Levels

Categorize each system’s risk level as low, medium, or high based on the findings.

This first assessment creates clarity on where a company’s cyber weaknesses and gaps exist across vital infrastructure. It enables smarter planning and priority for security uplifts in higher-risk areas. Completing quality initial checks is vital to managing cyber risks under the SOCI Act.

Designing Your CIRMP Framework

With cloud breach risks highlighted, 51% of organizations plan security investments in incident response, staff training, and detection tools post-breach. Use these insights to develop a customized CIRMP to protect your critical infrastructure asset by addressing:

Cyber and information risks that may impact critical operations

Personnel training needs across teams managing critical infrastructure assets

Supply chain vulnerabilities affecting critical asset security
Physical and natural hazards that can disrupt vital services

It is also crucial to align these standards with higher-level business plans, ensuring a top-down approach. When designing frameworks to secure your critical infrastructure assets, consider broader company goals, including customer experience, efficient operations, sustainability commitments, and more.

Prioritize Risk Areas

Conduct updated risk assessments highlighting vulnerabilities requiring urgent action based on potential business impact. Focus initial efforts on reinforcing security around the most critical data sets, applications, infrastructure, and third parties.

Outline Incident Scenarios

Define potential breach scenarios tied to key cyber risks and business processes. This approach enables the development of response plans for hypothetical situations, rather than reacting blindly post-incident. Simulate scenarios involving web applications, network services, cloud platforms, endpoints, and insider threats.

Assign Responsibilities

Document roles for detection, escalation, decision rights, communications, impact analysis, and recovery of normal operations. Outline responsibilities per risk area with RACI matrices, ensuring no gaps exist. RACI stands for Responsible, Accountable, Consulted, and Informed.

Implementing Advanced Risk Management

Despite advances in security AI that reduce costs and quicken breach containment, only 28% of businesses leverage it extensively. An effective CIRMP should incorporate smart technologies and integrate best practices, including:

Automated threat monitoring
Multifactor authentication
End-to-end encryption
Dark web monitoring
Ongoing audits

Training and Awareness

With the majority of incidents involving human error, instilling risk awareness across teams is vital through:

Security awareness training: Make cybersecurity education mandatory for all personnel to reduce organizational exposure.
Phishing simulations: Conduct regular simulated phishing attacks to identify staff members who are vulnerable and need additional guidance.

Reinforce Learning

After simulation cycles, offer refresher cyber hygiene courses to encourage the adoption of secure practices. Quiz employees on identifying risks post-training to address knowledge gaps revealed in phishing trials.

Leverage Experts

Engage managed security providers to impart best-practice awareness protocols tailored to your organization’s needs. Specialists can also assist in tracking the impact of training by defining metrics, such as a reduction in clicks on phishing lures over time.

Promote Shared Responsibility

Cultivate an environment in which individuals take ownership of data protection, rather than leaving it solely to IT teams. Encourage vigilance in countering insider threats by promoting peer reporting of suspicious behavior, as per policy.

Incentivize Participation

Consider linking cybersecurity e-learning completion rates to employee performance metrics. This approach motivates engagement beyond mere compliance and enables data-backed capability planning.

Regular CIRMP Review and Updates

Cyber threats evolve rapidly, necessitating frequent reassessment of risks and realignment of mitigation strategies. Additionally, it’s important to monitor:

Business model changes
New compliance obligations
Shifts in the risk landscape

And promptly update the CIRMP accordingly.

Leveraging External Resources

Governmental agencies like CISA provide extensive risk management guidance, tools, and public-private coordination on critical infrastructure protection. Collaborating with specialized risk management consultants also brings in external expertise, maximizing CIRMP robustness.

Industry Collaboration

Engage sector-specific Information Sharing and Analysis Centers (ISACs) to tap cyber intelligence from industry peers facing similar threats. ISAC alliances facilitate the exchange of anonymized data on incidents, vulnerabilities, and security best practices.

Leverage Frameworks

Map controls against recognized risk criteria such as ISO 27001, NIST CSF, or CIS Controls to demonstrate due diligence. Well-known standards reassure stakeholders while guiding teams in implementing controls.

Specialized Assessors

Engage external auditors who specialize in control validation to identify operational gaps that are not visible internally. Independent testing by certified professionals brings credibility to oversight bodies while meeting compliance needs.

Advisory Groups

Form dedicated advisory groups comprising leadership, IT security, legal, and other experts to provide risk oversight and counsel on complex issues. External specialists on such forums facilitate unbiased guidance aligned with company goals.

Conclusion: The Continuous CIRMP Journey

In today’s complex threat environment, having a tailored, vigilant CIRMP is crucial for business resilience. Treat the CIRMP as an ongoing process, not as a one-time project. While resource-intensive initially, the payoff in risk reduction is well worth the investment.

FAQs

1. How often should the CIRMP be updated?

Ideally, review the CIRMP quarterly against evolving threats, compliance needs, and business shifts, updating whenever gaps emerge. Annual in-depth analysis is mandatory.

2. Can SMBs implement an effective CIRMP?

Yes, SMBs can develop a comprehensive CIRMP by understanding their unique risks, phasing in key elements, and maximizing free government resources for critical infrastructure protection.

3. What are common CIRMP pitfalls?

Common CIRMP pitfalls include insufficient budget allocation, inadequate staff training, and lack of executive buy-in. Avoid treating it as an IT-only project rather than an organization-wide business resilience strategy.