Yet another cybersecurity risk assessment framework

IT systems pervade our society more and more, and we become heavily dependent on them. At the same time, these systems are increasingly targeted in cyberattacks, making us vulnerable. Enterprise and cybersecurity responsibles face the problem of defining techniques that raise the level of security. They need to decide which mechanism provides the most efficient defense with limited resources. Basically, the risks need to be assessed to determine the best cost-to-benefit ratio. One way to achieve this is through threat modeling; however, threat modeling is not commonly used in the enterprise IT risk domain. Furthermore, the existing threat modeling methods have shortcomings. This paper introduces a metamodel-based approach named Yet Another Cybersecurity Risk Assessment Framework (Yacraf). Yacraf aims to enable comprehensive risk assessment for organizations with more decision support. The paper includes a risk calculation formalization and also an example showing how an organization can use and benefit from Yacraf.