Another major factor affecting the investment in the ISMS is to what extent it meets the needs and expectations of stakeholders, given their power to tell you what to do, and their interest in evidence of it being done.
What are the expectations of stakeholders?
We have created a table which highlights examples of stakeholders. If you would like to download and use it, click here. The common thread is about growing trust through exhibiting confidence and control, where that increases the more visible, insightful and well evidenced the ISMS becomes. If you are unsure about a stakeholder’s expectations from the ISMS, ask them.
Ensure that your ISMS is fit for the purpose now, as well as able to adapt and grow as this information security and privacy-oriented world changes (because it is changing fast!)
In summary, if the organisation has few powerful stakeholders and a leadership lacking appetite for investment, the ISMS may seek to just cover the fundamentals of privacy to meet regulatory requirements. Basic investments in preventing cybercrime threats such as following Cyber Essentials are useful too.
Depending on those stakeholder expectations and the value at risk, greater returns outweigh the increased investments from putting in place more holistic approaches. This includes following recognised standards such as ISO 27001 or NIST Cyber Security. The outcomes you want from your ISMS along with the powerful stakeholder expectations will determine the inputs and outputs you need to invest in and the scope of your solution overall.
An ISMS delivers a positive return on investment. The goal of our whitepaper is to show you why, what, and how you can get RoI from an ISMS that fits the business needs.
The key considerations when building the business case for an ISMS?
- 1Building the business case for an ISMS
- 3The Challenge is Growing
- 4Three Reasons Why Nothing Happens
- 5Planning the business case for an ISMS
- 6A Point on People
- 7In Considering The Technology
- 8What is an ISMS?
- 9Understanding the Components of an ISMS
- 10The People Involved in the ISMS
- 11Why Do Organisations Need An ISMS?
- 12Is Your Organisation Leadership Ready to Support an ISMS?
- 13Developing the Business Case for an ISMS
- 14Achieving Returns from the Threats and Opportunities
- 15Stakeholder Expectations for the ISMS given their Relative Power and Interest
- 16Scoping the ISMS to Satisfy Stakeholder Interests
- 17GDPR Focused Work
- 18The Return on Investment from Information Security Management
- 19Doing Other Work for Broader Security Confidence & Assurance with Higher RoI
- 20Build or Buy – Considering the Best Way to Achieve ISMS Success
- 21The characteristics of a good technology solution for your ISMS
- 22Whether to Build or Buy the Technology Part of the ISMS
- 23The Core Competences of the Organisation, Costs and Opportunity Costs
- 24Evaluating The Threats
- 25Identifying The Opportunities
- 26Work To Get Done for ISO 27001
- 27In Conclusion