Which tool is used to compare the costs and benefits of a cybersecurity solution?

A cost-benefit analysis is a systematic process used to compare the expected costs of a cybersecurity solution with the anticipated benefits it will provide. This method helps organizations evaluate whether investing in a specific security measure is worthwhile, considering not just the direct financial costs but also the potential impacts on security posture, compliance, and operational efficiency.

In cybersecurity, decision-makers can utilize a cost-benefit analysis to determine the most economically viable solutions that also enhance security, allowing them to prioritize initiatives that offer the best return on investment. By quantifying both costs (such as implementation expenses, maintenance, and personnel training) and benefits (such as reduced risk of data breaches, improved compliance, and enhanced reputation), organizations can make informed decisions that align with their strategic objectives.

In contrast, a risk assessment matrix serves to identify and evaluate risks rather than compare financials; a threat modeling framework focuses on identifying potential threats and vulnerabilities, and impact testing evaluation assesses the effectiveness of security measures rather than their financial justification. Therefore, the cost-benefit analysis stands out as the appropriate tool for comparing costs and benefits in a cybersecurity context.