Scenario 4: SynthiTech is a huge global Technology company that provides Innovative software

Scenario 4: SynthiTech is a huge global Technology company that provides Innovative software

solutions and cybersecurity services to businesses in various industries, including finance, healthcare, and telecommunications. It is committed to deliver cutting-edge technology solutions while prioritizing the security and protection of its clients’ digital assets

The company adopted a mode) designed to ensure efficient operations and meet the specific needs of different market segments across the world Within this structure, the company’s divisions are divided into financial services, healthcare solutions, telecommunications, and research and development

To establish a robust cybersecurity program, SymhiTech established a cybersecurity program team consisting of several professionals that would be responsible for protecting its digital assets and ensuring the availability, integrity, and confidentiality of information, advising the cybersecurity manager in addressing any risks that arise, and assisting in strategic decisions. In addition, the team was responsible for ensuring that the program Is properly Implemented and maintained

Understanding the importance of effectively managing (he company’s assets lo ensure operational efficiency and protect critical resources, the team created an inventory of SynthiTech’s assets. The team initially identified all assets, as well as their location and status. The assets were included in the inventory, which was regularly updated to reflect organizational changes In addition, the team regularly assessed the risk associated with each digital asset.

SynthiTech follows a systematic approach to identify, assess, and mitigate potential risks. This involves conducting risk assessments to Identify vulnerabilities and potential threats that may impact its assets and operations. Its cybersecurity program team tested SynthiTech’s ICT system from the viewpoint of a threat source and identified potential failures in the IC1 system protection scheme. I hey also collaborated with other divisions to assess the impact and likelihood of risk and developed appropriate risk mitigation strategies. Then, the team implemented security controls, such as firewalls, Intrusion detection systems, and encryption, to ensure protection against the Identified risks. The activities of the risk treatment plan to be undertaken were ranked based on the level of risk and urgency of the treatment.

The company recognizes that effective risk management is an ongoing process and ensures monitoring, evaluation, and continual improvement of the cybersecunty program to adapt to security challenges and technological advancements.

Based on the scenario above, answer the following question:

Did SynthiTech follow the steps for implementing us cybersecurity asset management program correctly’ Refer to scenario 4.
A . Yes. SynthiTech followed all the steps for implementing the asset management program
B . the risk associated with digital assets should be assessed before developing the inventory
C . No. the Identified assets should be categorized based on their criticality, value, and sensitivity

View Answer

Answer: C

Explanation:

While SynthiTech followed many steps correctly, it did not mention categorizing identified assets based on their criticality, value, and sensitivity, which is a crucial step in asset management.

Detailed Explanation

Asset Categorization:

Importance: Categorizing assets helps in prioritizing security measures based on the importance and sensitivity of the assets.

Process: Assess each asset’s criticality to operations, value to the organization, and sensitivity of the information it holds.

Outcome: Ensures that the most critical and sensitive assets receive the highest level of protection.

Steps in Asset Management:

Identification: Recognizing all assets, including their location and status.

Categorization: Assessing and classifying assets based on criticality, value, and sensitivity.

Assessment: Regularly evaluating the risk associated with each asset.

Mitigation: Implementing security controls to protect assets based on their categorization.

Cybersecurity

Reference: ISO/IEC 27001: Recommends categorizing assets as part of the risk assessment process to prioritize protection efforts.

NIST SP 800-53: Suggests asset categorization to ensure effective risk management and resource allocation.

SynthiTech should categorize its assets to ensure that resources are allocated effectively, and the most critical assets receive appropriate protection.