Risk Assessment Framework

Project Overview

The Risk Assessment Framework project involved designing and implementing a comprehensive methodology for evaluating security risks across the organization. Aligned with NIST standards, this framework provides a structured approach to identifying, assessing, and prioritizing security risks, enabling more informed decision-making and resource allocation.

The Challenge

Organizations often struggle with risk assessment due to:

• Inconsistent methodologies across different teams and departments
• Subjective risk evaluations lacking quantitative backing
• Difficulty prioritizing risks based on business impact
• Challenges in communicating risk to executive leadership
• Limited visibility into how risks evolve over time

The Solution

I designed and implemented a risk assessment framework that:

• Provides a standardized methodology aligned with NIST SP 800-30
• Incorporates both qualitative and quantitative risk metrics
• Includes custom scoring methodologies for different risk categories
• Features visualization tools for communicating risk to stakeholders
• Enables tracking of risk trends and remediation progress over time

Technologies Used

Implementation Process

1. Framework Design

The first phase involved designing the risk assessment methodology:

• Researching NIST SP 800-30 and other industry standards
• Defining risk categories and assessment criteria
• Creating scoring rubrics for threat likelihood and impact
• Developing risk calculation formulas and thresholds
• Designing assessment workflows and approval processes

2. Assessment Tools Development

I created a suite of tools to support the risk assessment process:

• Excel-based risk register with advanced formulas and macros
• SharePoint site for centralized risk documentation
• Microsoft Forms for collecting risk assessment inputs
• Power Automate flows for assessment workflow automation
• Documentation templates for risk assessment reports

3. Visualization Dashboard

Using Power BI, I developed interactive dashboards that provide:

• Risk heat maps showing distribution of risks by likelihood and impact
• Trend analysis of risk levels over time
• Drill-down capabilities for detailed risk information
• Remediation tracking and progress visualization
• Executive summaries for leadership reporting

4. Implementation and Training

The final phase involved rolling out the framework across the organization:

• Developing training materials and conducting workshops
• Piloting the framework with select departments
• Refining the methodology based on feedback
• Creating a risk assessment playbook for ongoing use
• Establishing a regular cadence for risk assessments

Results and Impact

The Risk Assessment Framework delivered significant benefits:

• Standardized risk assessment methodology across the organization
• Improved risk visibility, with 40% more risks identified compared to previous methods
• Enhanced decision-making for security investments based on quantified risk data
• Reduced time to complete risk assessments by 35%
• Improved executive understanding and buy-in for security initiatives

Lessons Learned

This project provided valuable insights into effective risk management:

• The importance of balancing quantitative metrics with qualitative context
• The value of visualization in communicating complex risk concepts
• The need for stakeholder involvement throughout the risk assessment process
• The benefits of integrating risk assessment into broader governance processes
• The importance of regular reassessment as threats and business priorities evolve