Which framework is commonly used for cybersecurity risk assessments?

The NIST Cybersecurity Framework is commonly used for cybersecurity risk assessments due to its comprehensive approach that combines industry standards and best practices to help organizations manage cybersecurity risk. The framework provides a structured process that encompasses identifying risks, protecting assets, detecting incidents, responding to breaches, and recovering from events.

It is especially valued for its flexibility, allowing organizations of all sizes and types to adapt it to their specific needs. The framework helps organizations gain a clearer understanding of their cyber risk landscape, enabling informed decision-making about risk management strategies and resource allocation.

In contrast, while the other frameworks mentioned serve important roles in cybersecurity, they are not as universally recognized for the purpose of conducting overall cybersecurity risk assessments. ISO/IEC 27001 primarily focuses on information security management systems, the FAIR Framework specializes in quantitative risk analysis, and PCI DSS is specifically geared towards the protection of payment card data. The NIST Cybersecurity Framework stands out for its holistic approach to risk assessment across a broad spectrum of cybersecurity issues.