The risk analysis category of an IACS consists of two elements: business rationale and risk identification and classification1. Business rationale is the process of defining the scope, objectives, and criteria for the risk analysis, as well as the roles and responsibilities of the stakeholders involved. Risk identification and classification is the process of identifying the assets, threats, vulnerabilities, and consequences of a cyberattack on the IACS, and assigning a risk level to each scenario based on the likelihood and impact of the attack1. These elements are essential for establishing a baseline of the current risk posture of the IACS and determining the appropriate risk treatment measures to reduce the risk to an acceptable level. References: 1: ISA/IEC 62443-3-2:2020, Security for industrial automation and control systems - Part 3-2: Security risk assessment for system design, International Society of Automation, Research Triangle Park, NC, USA, 2020.
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