Management of Information Security (MindTap Course List)
5th Edition
ISBN: 9781305501256
Author: Michael E. Whitman, Herbert J. Mattord
Publisher: Cengage Learning
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Expert Solution & Answer
Chapter 6, Problem 20RQ
Explanation of Solution
Simplest Risk formula:
The simplest risk formula given in this chapter is as follows.
Risk = Vulnerability occurrence times value or impact – percentage risk already controlled + element of uncertainty
Primary elements of simplest risk formula:
The primary elements of the above given risk formula are as follows:
- Vulnerability occurrence times value:
- Likelihood refers to the overall rating of a numerical value on a defined scale of profitability which a specific vulnerability will be exploited.
- Likelihood is rated between 0.1 and 1.0, where 0.1 is the lower part of the scale and 1.0 is the higher part of it.
- Value of information can be rated from 1 to 100 where 1 means low critical asset, 50 means medium value, and 100 means all important assets...
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Chapter 6 Solutions
Management of Information Security (MindTap Course List)
Ch. 6 - Prob. 1RQCh. 6 - Prob. 2RQCh. 6 - Prob. 3RQCh. 6 - Prob. 4RQCh. 6 - Prob. 5RQCh. 6 - Prob. 6RQCh. 6 - Prob. 7RQCh. 6 - Prob. 8RQCh. 6 - Prob. 9RQCh. 6 - Prob. 10RQ
Ch. 6 - Prob. 11RQCh. 6 - Prob. 12RQCh. 6 - When you document procedures, why is it useful to...Ch. 6 - Prob. 14RQCh. 6 - Prob. 15RQCh. 6 - Prob. 16RQCh. 6 - Prob. 17RQCh. 6 - Prob. 18RQCh. 6 - Prob. 19RQCh. 6 - Prob. 20RQCh. 6 - Prob. 1ECh. 6 - Prob. 2ECh. 6 - Prob. 3ECh. 6 - Prob. 4ECh. 6 - Prob. 5ECh. 6 - Prob. 6ECh. 6 - Prob. 1DQCh. 6 - Prob. 2DQCh. 6 - Prob. 1EDM
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- The output of Risk identification is: Select one: a. Risk description b. Risk assessment c. Root cause analysis d. Dependibility requirementsarrow_forwardThe output of Risk analysis is: Select one: a. Risk assessment b. Dependibility requirements c. Root cause analysis d. Risk descriptionarrow_forwardThe output of Risk reduction is: Select one: a. Risk description b. Dependibility requirements c. Root cause analysis d. Risk assessmentarrow_forward
- The five risk-control strategies are listed and briefly described below.arrow_forwardDescribe how the nett present value relates to the risk involved. Utilize mathematical models to back up your assertions over a wide range of scenarios with varied degrees of danger.arrow_forwardCan you provide a thorough description of the concept of risk?arrow_forward
- Explain why we use two parameters, namely, probability of occurrence and consequence to evaluate risk. Using an example illustrate one parameter may not correctly define the level of riskarrow_forwardWhich of the following approaches to risk calculation typically assigns a numeric value (1–10) or label (High, Medium, or Low) represents a risk? a. Quantitative risk calculation b. Qualitative risk calculation c. Rule-based risk calculation d. Policy-based risk calculationarrow_forwardRisk tolerance and residual hazards must be specified. Using a real-world example, the trade-off between risk appetite and residual risk may be shown.arrow_forward
- Explain the relationship between NPV and risk. Use formulas to support your claims in a variety of situations with varying degrees of risk?arrow_forwardWhich of the following are stages of risk-based analysis Select one: a. Risk identification, analysis and classification, decompisition and reduction assessment are not the complete stages b. Risk identification, analysis and classification, decompisition and reduction assessment c. Risk decompisition and reduction assessment d. Risk identification, analysis and classificationarrow_forwardRisk assessment is: Select one: a. Neither subjective nor objective b. Subjective and objective c. Subjective d. Objectivearrow_forward
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