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Risk Assessment & Reporting

Quantified risk analysis, security roadmaps, and executive reporting — turning security uncertainty into business decisions.

Security risk isn't a feeling — it's a number. How likely is a ransomware attack? What would it cost? Which systems are most exposed? Which investments reduce the most risk per dollar? Most organizations make security decisions based on fear, vendor pitches, or the last headline they read. Forged provides quantified risk assessments that translate technical vulnerabilities into business impact — giving your leadership team the data they need to make informed investment decisions instead of guessing.

What's Covered

Scope of Assessment

Quantitative Risk Analysis

Risk expressed in dollars, not color-coded heat maps. Annualized loss expectancy, single loss expectancy, and probability calculations for your specific threat scenarios. Numbers your CFO can budget against.

Threat & Vulnerability Assessment

Identification of threats relevant to your industry, geography, and business model — paired with an assessment of your vulnerabilities to those specific threats. Not generic risk registers — your actual risk profile.

Security Roadmap Development

Risk-prioritized investment plan — which controls reduce the most risk for the least cost. A roadmap your leadership can approve because every recommendation has a quantified business justification.

Executive Risk Reporting

Board-ready risk dashboards showing current exposure, trend direction, risk reduction from completed initiatives, and remaining gap. Security posture translated into language executives and board members understand.

Business Impact Analysis

System-by-system analysis of what a disruption would cost — lost revenue, productivity impact, contractual penalties, regulatory fines, and reputational damage. The foundation for both risk management and disaster recovery.

Third-Party Risk Assessment

Evaluating the security risk introduced by your vendors, partners, and supply chain. Risk scoring, questionnaire management, contract requirements, and ongoing monitoring of your third-party ecosystem.

Our Process

How It Works

01

Scope & Methodology Definition

We define what's being assessed, which methodology we'll use, and how results will be communicated. Methodology matched to your audience — FAIR for quantitative, NIST for framework alignment, or hybrid approaches.

  • Assessment scope — which business units, systems, and processes are included
  • Methodology selection — FAIR (quantitative), NIST SP 800-30, OCTAVE, or hybrid
  • Stakeholder identification — who provides input, who receives results
  • Data collection plan — what information we need and who provides it
  • Reporting format agreed — executive summary, detailed findings, dashboard, or all three
02

Threat Modeling & Asset Identification

We identify your critical assets, the threats most likely to target them, and the vulnerabilities that would allow those threats to succeed. Not a generic threat list — a model specific to your industry, size, and technology profile.

  • Critical asset inventory — data, systems, applications, and processes ranked by business value
  • Threat actor profiling — who would target you, why, and with what capabilities
  • Threat scenario development — realistic attack scenarios based on your specific environment
  • Vulnerability mapping — which weaknesses in your defenses each threat scenario exploits
  • Existing control assessment — what's already in place and how effective it is
03

Risk Quantification & Analysis

Each risk scenario quantified with probability and impact — expressed in financial terms. Not 'high/medium/low' color codes, but dollar figures your leadership can compare against the cost of mitigation.

  • Probability estimation using industry data, threat intelligence, and environmental factors
  • Impact calculation — direct costs, indirect costs, and opportunity costs per scenario
  • Annualized loss expectancy — what each risk costs you per year in expected losses
  • Control effectiveness analysis — how much each existing control reduces risk
  • Residual risk calculation — what remains after current controls are factored in
04

Roadmap, Reporting & Ongoing Tracking

Findings translated into a prioritized action plan and executive reporting package. Risk tracked over time — showing whether your security investments are actually reducing exposure or just checking boxes.

  • Risk-ranked remediation roadmap with ROI for each recommended control
  • Executive risk report — current exposure, top risks, and investment recommendations
  • Board presentation materials with visual risk dashboards
  • Risk register establishment — living document tracking all identified risks
  • Quarterly risk posture updates showing trend direction and program effectiveness
Deliverables

What You Receive

Risk Assessment Report

Comprehensive analysis of your risk landscape — threat scenarios, vulnerability exposure, quantified impact, and current control effectiveness. The definitive document for your security investment decisions.

Risk Register

Living inventory of all identified risks with owner, probability, impact, current controls, residual risk score, and treatment plan. Updated quarterly and used as the management tool for ongoing risk decisions.

Executive Risk Dashboard

Visual representation of your risk posture — top risks, trend direction, risk reduction from completed initiatives, and comparison to industry benchmarks. One page that tells the whole story.

Security Investment Roadmap

Prioritized list of recommended security investments ranked by risk reduction per dollar. Each recommendation includes cost estimate, implementation timeline, and expected risk reduction.

Business Impact Analysis

System-by-system downtime cost analysis — revenue impact, productivity loss, contractual penalties, and recovery costs. Drives both security investment priorities and disaster recovery planning.

Third-Party Risk Report

Every critical vendor assessed and risk-scored. Security gaps identified, contractual requirements recommended, and ongoing monitoring frequency established based on vendor criticality.

Who It's For

Is This Right for You?

Board-Level Risk Visibility

Your board wants to understand cyber risk in business terms — not technical jargon. Quantified risk assessment provides the numbers and visualizations that drive informed governance decisions.

Security Budget Justification

Requesting budget for security tools, staff, or services and need to justify the investment. Risk quantification shows the cost of inaction versus the cost of the proposed solution.

Cyber Insurance Applications

Insurers increasingly want evidence of risk assessment and management. A formal risk assessment demonstrates the maturity carriers look for when underwriting your policy and setting premiums.

Compliance Requirements

HIPAA, CMMC, NIST, and ISO 27001 all require formal risk assessments. We deliver the assessment and the documentation that satisfies auditor requirements.

M&A Due Diligence

Acquiring or merging with another organization. A risk assessment reveals their security exposure — and by extension, what you're inheriting — before the deal closes.

Annual Risk Review

Mature organizations reassess risk annually — new threats, changed infrastructure, and evolving business objectives all shift the risk landscape. Year-over-year tracking proves program effectiveness.

Common Questions

FAQ

What's the difference between qualitative and quantitative risk assessment?

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Qualitative assessment rates risks as high/medium/low based on judgment. Quantitative assessment assigns dollar values to probability and impact — producing financial figures like annualized loss expectancy. Qualitative is faster and cheaper. Quantitative is more useful for executive decision-making and budget justification. We recommend quantitative for organizations that need to justify security spending to leadership or a board.

How is this different from a vulnerability scan or pen test?

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A vulnerability scan finds technical weaknesses. A pen test proves what's exploitable. A risk assessment puts both into business context — what does this vulnerability mean for our operations, our revenue, and our reputation? Risk assessment is strategic. Scanning and testing are tactical. You need both, but they answer different questions. Risk assessment tells you where to invest. Testing tells you whether the investment worked.

How often should we conduct a risk assessment?

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Formally, annually — and after any significant change (M&A activity, major infrastructure change, new regulatory requirement, or security incident). The risk register should be reviewed quarterly. Organizations in highly regulated industries or with rapidly changing environments may benefit from semi-annual formal assessments.

What data do you need from us to perform the assessment?

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Asset inventories, network diagrams, existing policies, prior assessment or audit reports, incident history, vendor lists, and business process documentation. We'll also conduct interviews with IT, security, operations, finance, and executive stakeholders. The more context we have about your business, the more accurate the risk quantification. We provide a detailed data request list during scoping.

Can you assess risk for specific scenarios like ransomware?

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Absolutely — and scenario-based assessment is often the most actionable approach. We model specific threat scenarios relevant to your organization (ransomware, data breach, BEC, insider threat) with your actual data to produce targeted probability and impact figures. This tells you exactly what a ransomware event would cost your specific organization — not an industry average.

Case Study
750-Staff Nonprofit Health Organization
Consolidated IT operations and improved quality without business interruption.
Read Case Study

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