Industrial IoT (IIoT) is a novel concept of a fully connected, transparent, automated, and intelligent factory setup improving manufacturing processes and efficiency. To achieve this, existing hierarchical models must transition to a fully connected vertical model. Since IIoT is a novel approach, the environment is susceptible to cyber threat vectors, standardization, and interoperability issues, bridging the gaps at the IT/OT ICS (industrial control systems) level. IIoT M2M communication relies on new communication models (5G, TSN ethernet, self-driving networks, etc.) and technologies which require challenging approaches to achieve the desired levels of data security. Currently there are no methods to assess the vulnerabilities/risk impact which may be exploited by malicious actors through system gaps left due to improper implementation of security standards.