Responsive cyber-physical risk management (RECYPHR): A systems framework

Abstract

Organizations are highly exposed to the vulnerabilities inherent in Internet connectivity, and the exposure increases every day as cyber-attacks become more lethal. Competitiveness demands an ever-increasing presence, and therefore reliance, on all things electronic. Over the past generation, businesses, consumers and governments around the globe have moved in to cyberspace and cloud environment in order to conduct their businesses. However, criminals have identified rewards from cyberspace frauds therefore, the risks and threats have increased too which indicate that the current risk management methodologies are inefficient and fast becoming obsolete in order to assess, manage, reduce, mitigate and accept risk in real time to effectively reduce cyber incidents. For our societies to function, securing the cyber space is essential and will be an enabler with result in better use of the digital environment. In this paper a new Responsive Cyber- Physical Risk Management Framework (RECYPHR) is proposed in order to tackle the traditional shortfalls and provide a Near Real-Time (NERT) response to managing risks.