Two Heads Are Better Than One

You’ll have heard the expression “two hearts beat as one,” and in the same vein, “two heads are better than one,” or even “four eyes see more than two.” These are not just quirky analogies involving the human form; they also relate perfectly to risk assessment and threat modeling.

While both are important disciplines, each capable of yielding strong results, combining them and bringing teams together to achieve a common goal is much more effective.

The issue with many companies is they think risk management and threat modeling are the same thing. Or, while recognizing the benefits of each, they might believe there is so much cross-over that one can be successful enough without the other.

Quite where your organization fits in probably depends on your attitude to risk. Do you want to tick boxes to show you’ve identified various risks or future threats to your product? Then, you’re probably doing some risk assessment work at least once at the start of a project.

But suppose you’re serious about preventing cyber threats to products and applications continuously throughout the design, build, release, and update phases. In that case, adding threat modeling to risk management gives you ultimate protection.

One process complements the other. It's a real case of two heads being better than one.

So, what is the crucial difference between risk management and threat modeling?

Risk Management Explained

It’s a systematic process to identify, assess, and mitigate against threats or uncertainties. If implemented well, you’ll make informed decisions to minimize negatives and maximize potential positives.

If your teams are agile, you can make risk assessments on the fly as circumstances or projects evolve and allow for multiple contingencies to account for the unexpected.

It should be a critical part of overall business and individual project planning.

And Threat Modelling?

Typically, companies that use software for products or services use threat modeling to assess cyber security threats and vulnerabilities. It should be a proactive approach that heads off any cyber issues before they become apparent.

Using high-quality, in-depth, yet relatively easy tools like the IriusRisk platform ensures countless scenarios can be tested not just once but throughout the project, from concept and design to build, release, and updating.

As cybercrime wipes billions from ill-prepared businesses’ bottom lines, you can see why effective threat modeling is paramount.

Similar But Different

While threat modeling tends to be crucial for identifying and mitigating specific security flaws within a system or service, risk management takes a broader approach to risks that can threaten a company’s overall health.

So, although they both appear to chase the same result, they are different approaches with alternative desired outcomes.

And while each can work independently of the other, it’s way more effective when an organization runs them side by side. It needn’t be expensive because the best threat-modeling systems do not cost an arm and a leg (in case we need another body part idiom).

Become a Certified DeRisker

We’re so confident you’ll love the benefits of the IriusRisk threat-modeling platform that we’ve introduced a cool and quick training program. You can be a threat modeling champion!

Spend 30 minutes getting to know IriusRisk on our free platform version, and then pass the questions to get your special digital badge and certificate.Please follow this link to our Certification Training to get started.