Conducting a Comprehensive Cybersecurity Gap Analysis with Asgard Cyber Security

Cybersecurity Gap Analysis Written by Megan Parris

Updated Feb 24th, 2025

To avoid costly cyber attacks, organizations must continually assess and enhance their security measures to safeguard sensitive data and maintain regulatory compliance. At Asgard Cyber Security, we offer a meticulous Gap Analysis service designed to help organizations identify and address deficiencies in their cybersecurity posture. Overseen by Asgard’s Chief Technology Officer (CTO), our Gap Analysis process is aligned with the guidelines and standards of NIST 800-171 Rev. 3, FAR 52.204-21, and DFAR 252.204-7012. Here’s an overview of the tasks involved in our comprehensive cybersecurity Gap Analysis project.

Benefits of Conducting a Cybersecurity Gap Analysis

Before diving into the specifics of our Gap Analysis process, it's crucial to understand the significant benefits this analysis can bring to your organization:

Improved Risk Management

A thorough gap analysis helps identify vulnerabilities and potential threats, allowing for more effective risk management strategies. This proactive approach can significantly reduce the likelihood and impact of security incidents.

Enhanced Compliance

With the ever-increasing regulatory requirements, a gap analysis ensures your organization stays compliant with industry standards and regulations. This not only helps avoid potential fines but also builds trust with clients and partners.

Cost-Effective Security Improvements

A gap analysis pinpoints specific areas that need improvement, allowing for targeted investments in cybersecurity measures. This approach is more cost-effective than implementing broad, unfocused security initiatives.

Overview of Our Cybersecurity Gap Analysis:

1. Current State Analysis

IT/Business Policy Review:

Gather Existing Policies: We start by collecting all current IT and business policies related to cybersecurity.
Policy Examination: Each policy is scrutinized for relevance, comprehensiveness, and alignment with NIST 800-171 Rev. 3, FAR 52.204-21, and DFAR 252.204-7012 standards.
Practical Implementation Review: We consult with relevant business units to understand how these policies are implemented in practice.

Internal Procedures Review:

Procedure Compilation: A list of all internal cybersecurity procedures is compiled.
Effectiveness Evaluation: We evaluate the effectiveness of each procedure by examining logs, reports, and user testimonies.
Alignment Check: These procedures are then checked against the reviewed policies for consistency and alignment.

Internal Audit / Penetration Testing Review:

Audit and Testing Results Review: We review results from recent internal audits and penetration tests.
Risk and Vulnerability Identification: Vulnerabilities and risks highlighted in these reports are identified and compared against the required frameworks.
Remediation Assessment: We assess how identified issues have been addressed.

2. Future State Planning

Familiarize Your Organization with New Framework:

Training Sessions: We organize training sessions or workshops to introduce the new framework requirements to key stakeholders.
Educational Materials: We create educational materials, such as handouts and slides, to explain the key aspects and benefits of the security framework.

Identify Exceptions or Modifications:

Engage Business Leaders: Through interviews, surveys, or workshops, we understand specific business needs that might require exceptions.
Document Changes: Any changes or exceptions are documented with clear rationales.

Map Existing Policies and Procedures:

Develop a Matrix: We create a matrix to map current policies and procedures against the framework controls.
Highlight Overlaps and Gaps: This matrix helps to highlight any overlaps or gaps in the current cybersecurity measures.

Re-create Risk Analysis:

Foundation Re-assessment: We use NIST 800-171 Rev. 3, FAR 52.204-21, and DFAR 252.204-7012 as a foundation to re-assess current risks.
Risk Prioritization: Risks are prioritized based on their impact and likelihood under the new framework.

Identify Regulatory Bodies and Compliance Requirements:

We identify relevant regulatory bodies and outline the specific compliance requirements applicable to the organization.

3. Gap Analysis

Identify Unaddressed Areas:

Pinpoint Framework Deficiencies: Using the developed matrix, we pinpoint areas where the organization's current state does not meet framework standards.
Ensure Comprehensive Documentation: For each section of NIST 800-171 Rev. 3, FAR 52.204-21, and DFAR 252.204-7012, we ensure there is either supporting documentation, an aligned policy/procedure, or a documented exception.

4. Recommended Remediations

Develop Remediation Plans:

Objective Definition: Clear objectives are defined for each remediation effort.
Resource Determination: Required resources, including personnel, tools, time, and potential costs, are determined.
Task Prioritization: Remediation tasks are prioritized based on risk exposure and business impact.
Timeline Establishment: Timelines and milestones for each task are established.
Responsibility Assignment: Responsibilities and ownership are assigned to relevant teams or individuals.
Ensure Open Communication: Communication channels are kept open for any clarifications or adjustments needed during the remediation process.

Tools and Techniques for Gap Analysis

To ensure a comprehensive and accurate gap analysis, we employ a variety of tools and techniques:

Automated Vulnerability Scanners

We utilize state-of-the-art automated vulnerability scanners to identify potential weaknesses in your network and systems. These tools provide a baseline for our analysis and help prioritize areas that need immediate attention.

Penetration Testing

Our team conducts thorough penetration testing to simulate real-world cyber attacks. This helps identify vulnerabilities that may not be apparent through automated scans alone.

Security Information and Event Management (SIEM) Systems

We leverage SIEM systems to collect and analyze log data from various sources across your organization. This provides valuable insights into potential security incidents and helps identify patterns that may indicate vulnerabilities.

Implementing a Continuous Improvement Process

A one-time gap analysis is not sufficient in today's rapidly evolving threat landscape. We recommend implementing a continuous improvement process:

Regular Reassessment

We advise conducting regular reassessments of your cybersecurity posture. This helps identify new gaps that may have emerged due to changes in technology, business processes, or the threat landscape.

Updating Security Policies and Procedures

Based on the findings of regular reassessments, we assist in updating your security policies and procedures to address new challenges and maintain compliance with evolving regulations.

Adapting to New Threats and Technologies

Our team stays abreast of the latest cybersecurity threats and technologies. We help your organization adapt its security measures to effectively counter new threats and leverage emerging security technologies.

Conclusion

By following this detailed Gap Analysis process, Asgard Cyber Security ensures that organizations not only identify their cybersecurity weaknesses but also receive actionable recommendations to fortify their defenses. Our commitment to adhering to industry standards and best practices ensures that your organization is well-equipped to handle current and future cybersecurity challenges.

With the cost of a data breach reaching an average of $4.45 million in 2023, a 15% increase in just 3 years, organizations must take proactive measures to protect their assets and reputation. Our gap analysis process helps you identify and address vulnerabilities before they can be exploited, potentially saving millions in breach-related costs and preserving your organization's credibility.

Moreover, with nearly 48.8% of C-Suite and top executives reporting an increase in the size and number of cyber events targeting financial and accounting data, it's clear that no organization is immune to cyber threats. By partnering with Asgard Cyber Security for your gap analysis, you're taking a crucial step towards strengthening your cybersecurity posture and safeguarding your organization's future.