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Risk management and analysis: qualitative vs quantitative - part 3 E-mail
As Hal Tipton and Micki Krause noted in Handbook of Information Security Management [Tipton, H. & Krause, M., 1998], whether we choose the quantitative assessment, whether we try a qualitative assessment, the elements that need to be considered (if we recall the „Divide et Impera” adage) are:
- tangible or intangible asset value (the value of these assets is determined, usually, in terms of cost required for replacing them)
- threat frequency (the threat defines an event whose would lead to an unwanted impact.) existence
- threat exposure factor (this factor represents a measure of the magnitude of loss or the impact on the value of an asset.)
- safeguard effectiveness (this term represents the degree to which a safeguard manages to effectively minimize a vulnerability and to reduce the risks of associated loss.)
- safeguard cost (safeguards are often described as controls or countermeasures and we can talk here about the practice of the cost/benefit analysis.)
- uncertainty (this term characterizes the degree, expressed in percentages of trust in the value of any element of the risk assessment process)




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