Year after year, CISOs need to develop a comprehensive security budget that is able to mitigate against threats.
This budget will have to be defended against many other stakeholders to ensure there is proper funding.
Security budgets are unlike other departmental budgets. Increases or decreases in the budget can drastically affect the organizational risk level.
CISOs struggle with the ability to assess the effectiveness of their security controls and where to allocate money.
CISOs can demonstrate the value of security when they correlate mitigations to business operations and attribute future budgetary needs to business evolution.
To identify the critical areas and issues that must be reflected in your security budget, develop a comprehensive corporate risk analysis and mitigation effectiveness model, which will illustrate where the moving targets are in your security posture.
Impact and Result
Info-Tech’s methodology moves you away from the traditional budgeting approach to building a budget that is designed to be as dynamic as the business growth model.
Collect your organization's requirements and build different budget options to describe how increases and decreases can affect the risk level.
Discuss the different budgets with the business to determine what level of funding is needed for the desired level of security.
Gain approval of your budget early by preshopping and presenting the budget to individual stakeholders prior to the final budget approval process.