Using financial modeling, companies can adopt approaches for estimating both the direct and hidden intangible costs associated with cyber-risk and express those risks in traditional financial terms. These models should be based on industry-accepted frameworks (e.g., FAIR, NIST, etc.). A cyber balance sheet incorporates these financial models and related tools to gauge the impact differential between, say, two hours of downtime for an online merchant website versus two hours of downtown for a complex manufacturing line. While the former could mean lost customer data, the latter could cause a vast ripple effect on production and even shut down your just-in-time global supply chain because expensive infrastructure was sabotaged and destroyed.
via To Prove Cybersecurity’s Worth, Create a Cyber Balance Sheet
