Journal article Open Access
The purpose of this study is to review the existing cybersecurity assessments and practices used by technology companies to protect their assets from potential harm and damage. Today, the software systems have thousands of vulnerabilities and, when breached, can cost the companies millions of dollars. A clear path for identifying risks, detecting threats, and responding to them is imperative. However, it is not easy to quantify cybersecurity risks as the networks and networks of networks are becoming complicated and, so most risk assessments use relevant parameters to calculate a risk score. If this score is high, it has a high impact on the critical systems. This knowledge helps hi-tech companies such as finance, banking, healthcare, defense, and supply-chain sectors to prioritize their actions and investments effectively. This study examines the risk assessment strategies and steps that companies adopt across the software development lifecycle (SDLC) to stay ahead of cybersecurity risks.