Industrial Control Systems (ICS) risk management is the process of identifying, assessing, and mitigating risks to ensure the security and reliability of critical infrastructure. Effective risk management helps protect ICS from cyber threats and ensures they function safely and efficiently.

ICS Risk Management Entails:

• Risk identification: the initial process to detect potential risks or hazards that can affect the incident response.
• Risk Assessment: This process occurs to determine or identify a level of possibility of an incident or frequency of an incident.
• Risk priority: This process serves to analyze an incident that is a priority that pose a significant threat to personnel, resources, or the success of responses, discussed first.
• Risk Mitigation: Deploy technical controls such as firewalls, intrusion detection systems (IDS), encryption, and regular software updates.
• Incident Response: Establish procedures for detecting and analyzing security incidents.
• Continuous Monitoring and Improvement: Implement continuous monitoring solutions to detect potential threats and anomalies in real-time
• Compliance and Reporting: Ensure compliance with industry standards such as NIST SP 800-82, ISA/IEC 62443, and NERC CIP.

ICS Risk Management is a comprehensive approach to protecting critical industrial systems from a wide range of risks. It involves continuous efforts to identify potential threats, assess their impact and likelihood, implement appropriate security controls, and maintain robust incident response and recovery plans. By effectively managing these risks, organizations can ensure the security and resilience of their ICS environments, thereby protecting essential services and infrastructure.