Budget Strategies for New Technology and Training
In this write-up we will be going over strategies that I will be utilizing to effectively allocate a budget for additions to cybersecurity technology as well cybersecurity training. First, I will go over monitoring efficacy of current systems that will be used to determine if new cybersecurity technology is necessary. Second, I will go over monitoring efficacy of cybersecurity training to determine the effectiveness of the current training curriculum. Lastly, I will explain how expecting the unexpected will serve the bottom line and leave room for growth.
Monitoring efficacy of current systems
Constant monitoring of the current systems is necessary to decide if and where adjustments are warranted based upon system performance. If the risks associated with certain tools or services are outside of anticipated guidelines, decisions need to be made to use additional cybersecurity technology monies to budget for that service. Expenditure fluctuations in this area, would be utilized to increase or reallocate employees, as well as increase or reallocate cybersecurity technology based on the needs of the system. Additional cybersecurity technology expenditures are the largest expenditure of the budget at fifty percent.
Monitoring efficacy of cybersecurity training
Regular cybersecurity training and the risks associated with non-compliance will be monitored to ensure training efficacy. If cybersecurity training is not proven to be effective, the training modules and frequency will be evaluated. Budget expenditures for training will be adjusted based on the effectiveness of the training program. The training expenditure consists of twenty percent of the budget.
Expect the unexpected
The remaining thirty percent of the budget will be utilized for variable expenses in both additional cybersecurity technology and cybersecurity training. This budget line item will be used for implementing systems for new clientele. Krishnan (2022) states, any new business initiative adopted must be assessed and have security budget applied to it. This will ensure that new customers remain secure. This line item will also capture any expenditures that derived from an unknown issue.
Conclusion
The strategy of monitoring the efficacy weekly of the current technology systems allows for timely adjustments. This can result in cost savings by reducing employee downtime and by reallocating underutilized systems. The strategy of monitoring the efficacy of cybersecurity training will improve safety while detailing effectiveness. Expecting the unexpected ensures the potential to effectively handle new growth opportunities while providing funding for the unexpected. Utilizing these budget strategies will ensure additional cybersecurity technology and cybersecurity training will be available if needed
References
Krishnan, A. (2022, September 1). Cybersecurity budget breakdown and best practices. TechTarget. https://www.techtarget.com/searchsecurity/tip/Cybersecurity-budget-breakdown-and-best-practices