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...