MARISMA: A modern and context-aware framework for assessing and managing information cybersecurity risks

In a globalised world dependent on information technology, ensuring adequate protection of an organisation's information assets has become a decisive factor for the longevity of the organisation's operation. This is especially important when these organisations are critical infrastructures that provide essential services to nations and their citizens. However, to protect these assets, we must first be able to understand the risks to which they are subject and how to manage them properly. To understand and manage such the risks, we need first to acknowledge that organisations have changed, and they now have an increasing reliance on information assets, which in many cases are shared with other organisations. Such reliance and interconnectivity means that risks are constantly changing, they are dynamic, and potential mitigation does not just rely on the organisation's own controls, but also on the controls put in place by the organisations with which it shares those assets. Taking the above requirements as essential, we have reviewed the state of the art, and we have concluded that current risk analysis and management systems are unable to meet all the needs inherent in this dynamic and evolving risk environment. This gap in the state of the art requires novel approaches that draw on the foundations of risk management, but they are adapted to the new challenges. This article fulfils this gap in the literature with the introduction of MARISMA, a novel security risk analysis and management framework. MARISMA is oriented towards dynamic and adaptive risk management, considering external factors such as associative risks between organisations. MARISMA also contributes to the state of the art through newly developed mechanisms for knowledge reuse and dynamic learning. An important advantage of MARISMA is the connections between its elements that make it possible to reduce the subjectivity inherent in classical risk analysis systems, thereby generating suggestions that allow the translation of perceived security risks into real security risks. The framework comprises a reusable meta-pattern comprising different elements and their interdependencies, a supporting method that guides the entire process, and a cloud-based tool that automates data management and risk methods. MARISMA has been applied to many companies from different countries and sectors (government, maritime, energy, and pharmaceutical). In this paper, we demonstrate its applicability through its application to a real world case study involving a company in the technology sector.