Benchmarking

An alternative approach to risk management is Benchmarking. It is process of seeking out and studying practices in other organizations which one’s own organization desires to duplicate. One of three measures characteristically used to compare practices:

a) Metrics based measures

b) Process based measures

Metrics based measures are comparisons which are based on numerical standards, such as

-  The numbers of successful attacks
-  Staff hours which are spent on systems protection
-  The dollars which are spent on protection
- Numbers spent on protection
-  Estimated value in dollars of information lost in successful attacks
- Lose in productivity hours associated with the successful attacks

Process-based measures are less focused on numbers and more strategic than Metrics based measures. It enables organization to examine activities an individual company performs in pursuit of its goals instead of the specific of how goals are attained. There are several legal reasons. They are:

Standard of due care: when adopting levels of security for the legal defense, organization shows it has done what any prudent organization would do in same circumstances.

Due diligence: demonstration that organization is diligent in ensuring which implemented standards continue to provide needed level of protection. Failure to support standard of care or diligence can leave organization open to legal liability.

Best business practices: security efforts which provide a superior level protection of information.

While considering best practices for adoption in an organization, consider:

•    Does organization resembles identified target with best practice?

•    Are resources at hand similar?

•    Is organization in a alike threat environment?