What is a security risk assessment?

A cybersecurity risk assessment—or, more simply, a security risk assessment—helps identify, evaluate, and reduce security risks within an organization. It checks for vulnerabilities, such as security flaws in code, exposed secrets, and risky third-party libraries.

This process helps keep software secure before and after it goes live. Security risk assessments also involve identifying risks to companies, their data, and their people. In addition, they can put security measures in place to prevent application security defects and vulnerabilities.

Think of it like checking your home for things that could go wrong (any broken locks or fire hazards?) and fixing them before they cause a problem.

Benefits of security risk assessments

Security risk assessments help you safely develop apps while guarding your business. Some of the main benefits include:

• Preventing security issues. Find and fix problems before they cause damage.

• Protecting sensitive information. Keep API keys, passwords, and other secrets safe.

• Saving money. Avoid costly breaches and development downtime from fixing security issues after launch.

• Following rules and regulations. Stay compliant with security requirements for software development.

• Building customer trust. Deliver secure and reliable software to your users.

• Staying ahead of threats. Keep your code protected as new vulnerabilities emerge.

• Supporting business growth. Embed security checks without slowing down development.

Types of security risk assessments

There are several different types of security risk assessments. When combined, they provide powerful protection. Here’s a high-level overview of the most common types.

Physical security assessments

These assessments focus on the physical spaces where software development happens. They check for risks like:

• Unauthorized access to servers or workstations

• Poor security for backup storage

• Weak entry controls to office spaces

The goal is to make sure the physical environment protects the hardware and data developers rely on.

IT security assessments

These assessments focus on the infrastructure that supports software development, such as networks and servers. They check for risks like:

• Weak network configurations

• Vulnerable remote access setups

• Outdated or unpatched systems

The goal is to protect a business’s technology backbone from cyberthreats.

Data security assessments

These assessments focus on keeping sensitive data safe. They check for risks like:

• Vulnerable user data

• Less-secure access to databases

• Accidental exposure of API keys, passwords, and sensitive files

The goal is to help developers securely handle data throughout the development process.

Application security assessments

These assessments target the software itself. They look for vulnerabilities that could be exploited, such as:

• Weak authentication methods

• Vulnerable coding practices

• Third-party dependency risks

The goal is to make sure your software protects users and data.

Insider threat security assessments

These assessments focus on risks from within an organization, including:

• Unintentional mistakes by developers that create security gaps

• Unauthorized access or misuse of systems by employees

• Poor access control for development environments

The goal is to prevent security issues caused by company employees, both accidental and intentional.

What are the five steps of a security risk assessment?

Security risk assessments can be boiled down to five steps:

1. Identify what you need to protect. Pinpoint what needs protection, including your codebase, infrastructure, and development tools.

2. Find potential threats. Consider risks like malicious code injections, dependency vulnerabilities, or insider errors.

3. Spot weak areas. Use tools to scan for insecure code, weak configurations, and exposed secrets.

4. Evaluate the risks. Assess the likelihood and potential damage of each issue, such as data exposure or system downtime.

5. Make a security plan. Fix vulnerabilities, enforce secure coding practices, and monitor for ongoing risks.

The goal is to always stay one step ahead to protect what matters most.

Common issues to avoid when performing a security assessment

Security risk assessments are essential for app development, but they aren’t without their own issues. When performing an assessment, avoid these common pitfalls:

• Skipping code scans in early development. Security issues are harder and more expensive to fix later in development. Use automated code scanning tools from day one to catch vulnerabilities as code is written.

• Ignoring third-party dependencies. Vulnerabilities in libraries and frameworks can expose your entire app to threats. Regularly review and update third-party dependencies and use tools that alert you to known security issues.

• Failing to secure sensitive information. Exposing API keys, passwords, or other secrets can lead to unauthorized access. Use environment variables and secret management tools to keep sensitive information safe.

• Overlooking developer access controls. Too much access increases the risk of accidental changes or insider threats. Implement role-based access controls and limit permissions to what's necessary for each role.

• Focusing only on technical issues. Security gaps can also come from process mistakes or human errors. Include security training for developers and enforce secure coding practices.

• Neglecting regular assessments. Threats evolve, and your software can quickly become outdated and vulnerable. Schedule regular risk assessments and implement continuous code scanning and monitoring to stay ahead of new risks.

• Failing to prioritize vulnerabilities. Trying to fix everything at once can delay crucial updates. Assess the likelihood and impact of each issue, then fix the most serious vulnerabilities first.

By avoiding these mistakes and following best practices, you’ll create a more secure, resilient development process.

Real-world examples of security risk assessments

To better understand how different types of security risk assessments help companies, check out these examples.

Examples of a Physical security assessment

• A software company discovered that non-IT staff had access to server rooms. By adding access control systems and cameras, the company prevented unauthorized access.

• After a misplaced drive led to a data loss scare, a development lab strengthened its physical security by installing locked, fireproof storage cabinets for backup drives.

Examples of a IT security assessment

• A cloud services provider used network scanning tools to identify outdated firewall rules that allowed unnecessary internet traffic. Updating these rules reduced exposure to cyberattacks.

• A software company conducting an IT assessment discovered unpatched operating systems across development servers. To fix the issue, the company set up an automatic update process.

Examples of a Data security assessment

• Through a data discovery tool, a financial software company found exposed sensitive test data. The assessment led to implementing strict data masking procedures to protect customer records.

• A development team used secret scanning tools to detect hardcoded API keys in their repositories. Team members then adopted a secret management solution to securely store sensitive credentials.

Examples of a Application security assessment

• An e-commerce company’s application security testing tool detected a vulnerability that allowed attackers to bypass login security. Based on the assessment, the team implemented multifactor authentication.

• A health tech firm’s automated code scanner revealed at-risk API endpoints. The firm improved endpoint security by adding encryption and tightening access controls.

Example of a Insider threat security assessment

• A gaming company used access management tools to audit permissions and found that developers had excessive access to production servers. To limit permissions, the company implemented role-based access controls.

• A software start-up’s security monitoring tool flagged that an internal team member had unusual download activity. In response, the start-up tightened logging and monitoring systems to detect and respond to insider threats.

With the right security tools, businesses can uncover risks and take steps to protect their software and data.

Next steps

Security risk assessments are essential for keeping your software safe and reliable. By identifying potential risks and fixing them early, you’ll protect your code, data, and customers.

To learn more, explore GitHub security best practices as well as related case studies and blog posts.

Or check out GitHub Advanced Security to see how it fixes security issues faster and reduces your overall risk.