A cyber security risk assessment is about understanding, managing, controlling and mitigating cyber risk across your organization. It is a crucial part of any organization's risk management strategy and data protection efforts. Risk assessments are nothing new and whether you like it or not, if you work in information security, you are in the risk management business.

Creating and maintaining relationships with third parties brings about multiple risks. Whether your organization is large or small, it’s almost certain that you have business relationships with many third parties for specific types of operations. When operational data and confidential information are exchanged with third parties, that data and information are vulnerable to misuse and exploitation. This is where risk comes into the equation.

The TARA method provides risk evaluation, assessment, treatment, and planning for identified risks. Learn how to apply this method to the ISO SAE 21434 standard. In our earlier blog posts we covered the ISO SAE 21434 standard, including the organizational cyber security plan as well as the cyber security assurance levels in depth. We will now look at the impact calculation and detailed threat analysis and risk assessment (TARA) coverage within this new standard.