CISOs have relied on industry standards for qualitative assessments, maturity scales, and heatmaps to frame cyber risk but struggle to communicate and measure cyber risk financially to the business. CISOs are turning to cyber risk quantification (CRQ) to solve this problem only to find that too many standards broadly claim to “assess risk.” Using a comprehensive definition of a quantitative risk model, CISOs will understand how to navigate competing standards and frameworks and prepare their CRQ implementation effort for success.