Consequence-based risk assessment

The consequence-based risk assessment approach for ICSs and SISs is centered on understanding and managing potential outcomes or impacts that could result from a security compromise.

Unlike traditional IT risk assessments, which often focus on the likelihood of a threat, the consequence-based approach starts by identifying worst-case scenarios or major impacts, such as environmental harm, equipment damage, financial loss, or even a threat to human safety. Based on the identified consequences, security measures are then tailored to prevent or mitigate these specific impacts.

In essence, this approach is grounded in the principle that the higher the potential consequences, the more rigorous the security controls should be. This methodology is particularly effective in the context of ICSs and SISs where system availability, functionality, and integrity often take precedence over other traditionally IT-focused considerations, such as confidentiality...