In our continuing series on information security, Jesse Erdmann, CISSP, looks at the data risk, security budgets, and Return on Investment factors in information security.
ROI in the security space has long been a difficult thing to measure. In many respects, ROI is the wrong term to apply when evaluating a security budget. The only thing for certain is that one way or another, an organization is going to pay for security. By doing the work of evaluating risks and needs, an entity can determine how proactive they will be about setting and limiting the price paid for security.
The models for allocating security spending can vary–from one budget to cover everything, to a number of buckets of a budget to protect information and systems (grouped together based on the value and risk of exposure). E.G. your most sensitive data resides on a small set of systems that gets allocated a higher budget, while the network at large has a smaller level of investment. In the end, however, your data and systems are either secured or they have been compromised, there isn’t a grey area.
So, how does a health institution evaluate the value of data and systems for each of those components?
* Sensitivity: The only groups who might consider their data to be more sensitive than patient data are intelligence agencies and the military. That’s it. The data held by a health institution is what a patient considers their most private information.
* Risk: How would patients react if there were a public incident of patient data exposure? Would the provider lose business? How stringent is the law in your state with regard to this data? How much would it cost to fight or settle a lawsuit? How likely are these events to occur?
* Attractiveness to Attackers: With organized crime trafficking personal identification for the purpose of identity theft, any large institution should consider themselves a target. Many simple attacks and novice attackers can be turned away with simple security measures to cover the basics. But, institutions known or suspected to have large quantities of sensitive data have become high-profile targets with more determined attackers. The more data you have, the more sophisticated those trying to get it will be.
This is just a brief introduction of the factors that go into calculating security risk and the associated ROI for security measures. There are several additional resources you can use to get started on evaluating your organization. Below are a just a few, I highly recommend the first link, an article by Bruce Schneier for csoonline.com
Article 1
Article 2
Article 3