Financial impact of Risk Management Risk Analysis Matrix.ppt

Financial impact of Risk Management Risk Analysis...

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Financial impact of Risk Management, Risk Analysis Matrix INFSYS 3878/6878: Management of Information Security Jeff Robertson
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Discussion Topics Risk Assessments Qualitative vs Quantitative Total Cost of Ownership Return on Investment Related CISSP domains: Security & Risk Management 2
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Risk Assessment Definitions Threat Any event which could have an undesirable impact Vulnerability Absence or weakness of a risk-reducing safeguard, potential to allow a threat to occur with greater frequency, greater impact or both Exposure A measure of the magnitude of loss or impact on the value of the asset Risk RISK = THREAT x VULNERABILITY The potential for harm or loss, including the degree of confidence of the estimate To have risk, a vulnerability must be exploitable by a threat 3
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Risk Assessment Definitions (continued) Event Something that can happen Can be positive (opportunities) or negative (risks) Impact The consequence of a risk being realized (cost) Sometimes included in the risk formula RISK = THREAT x VULNERABILITY x IMPACT Vulnerability assessments vs. Risk Assessments
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