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Risk Analysis

PSP - Chapter 1 - Risk Analysis

Approaches to Assessing Risks Quantitative and Qualitative
Threats Generally associated with humans
Hazards Generally associated with nature
Nature of Threats Crimes; Non-criminal (man made or natural disasters); Consequential Events (adverse effects of business transactions, assocations)
Two Methods of Qualifying Risks 1)C A R V E R (Criticality; Accessibility; Recovery; Vulnerability; Effects; Recognizability) 2) Threat Matrix: Impact or consequences - vertical axis AND Likelihood or probability - horizontal axis.
Vulnerability Any weakness that can be exploited by agressor OR to make asset susceptible to damage from natural hazards or consequential events
Objective of Vulnerability Assessment Arrive at rating or value that can be used to identify assets & threats that require attention first by inplementing mitigation measures
Risk Mitigation Assumption; Avoidance; Limitation; Transferance; Site Hardening
Rationale behind cost-benifit analysis in determining mitigation options: Security practioner should determine cost of implementing a program and weigh the cost against the impact of the loss - financially or otherwise.
What is a very very basic example of cost-benifit analysis? It makes no sense to spend $100,000 to prevent a $1000 loss.
Created by: psp study guide