Systems and methods of the present disclosure provide comprehensive risk assessment in a heterogeneous dynamic network. The framework enables ‘view’ and ‘analyses’ of complete architecture simultaneously in information view, deployment view, business view and security view. Fundamentally, data pertaining to information flow between a plurality of nodes within systems in a network is identified. One or more affected nodes or paths therebetween are identified and attack risk is computed. The graph based framework supports multiple threat models for threat evaluation. It also provides mitigation plans which will reflect reduced risk in the business view and incorporates attack tree simulations to evaluate dynamic behavior of a system under attack.