Feasibility studies-risk management, Computer Network Security

Assignment Help:

Feasibility Studies

Before deciding on strategy, all information of economic or non economic consequences of vulnerability of information asset should be explored. A number of ways exist to determine the advantage of a specific control.

Cost Benefit Analysis (CBA)

The common approach for information security controls is economic feasibility of implementation. CBA is begun by evaluating the worth of assets which are to be protected and the loss in value if those assets are compromised. The formal manner to document this is called as cost benefit analysis or economic feasibility study. Items which impact cost of a control or safeguard include: cost of development; implementation cost; service costs; training fees; cost of maintenance.

Benefit is the value an organization realizes by using controls to avoid losses associated with vulnerability. Asset valuation is the process of assigning financial value or worth to every information asset; there are several components to asset valuation.

Once worth of various assets is anticipated, potential loss from exploitation of vulnerability is examined. Process results in approximation of potential loss per risk. Expected loss per risk stated in equation given below:

Annualized loss expectancy (ALE) equals Single loss expectancy (SLE) TIMES Annualized rate of occurrence (ARO)

Here SLE is equal to asset value times exposure factor (that is EF).

  The Cost Benefit Analysis (CBA) Formula

CBA determines that whether the control alternative being evaluated is worth cost incurred to control vulnerability or not. CBA easily calculated by using ALE from earlier assessments, before implementation of control proposed:


-CBA = ALE (prior) – ALE (post) – ACS
-ALE (prior) is annualized loss expectancy of risk before implementation of control
-ALE (post) is estimated ALE based on control being in place for the period of time
-ACS is annualized cost of safeguard.

 Benchmarking

An alternative approach to risk management is Benchmarking. It is process of seeking out and studying practices in other organizations which one’s own organization desires to duplicate. One of three measures characteristically used to compare practices:

a) Metrics based measures

b) Process based measures

Metrics based measures are comparisons which are based on numerical standards, such as

- The numbers of successful attacks

- Staff hours which are spent on systems protection

- The dollars which are spent on protection

- Numbers spent on protection

- Estimated value in dollars of information lost in successful attacks

- Lose in productivity hours associated with the successful attacks

Process-based measures are less focused on numbers and more strategic than Metrics based measures. It enables organization to examine activities an individual company performs in pursuit of its goals instead of the specific of how goals are attained. There are several legal reasons. They are:

Standard of due care: when adopting levels of security for the legal defense, organization shows it has done what any prudent organization would do in same circumstances.

Due diligence: demonstration that organization is diligent in ensuring which implemented standards continue to provide needed level of protection. Failure to support standard of care or diligence can leave organization open to legal liability.

Best business practices: security efforts which provide a superior level protection of information.

While considering best practices for adoption in an organization, consider:

•    Does organization resembles identified target with best practice?

•    Are resources at hand similar?

•    Is organization in a alike threat environment?


Related Discussions:- Feasibility studies-risk management

Cryptographic algorithms-cryptography, Cryptographic algorithms Cryptogr...

Cryptographic algorithms Cryptographic algorithms are broadly classified into two broad categories. They are stated below 1.  Symmetric Encryption and 2.  Asymmetric Encryptio

Determine the codeword which is transmitted using crc, Question (a) For...

Question (a) For the bit stream 010011, show the waveforms for each of the code indicated. Consider that the signal level for NRZ-L for mark is positive; the signal level for t

Innovative nature of triple key management, Innovative nature of triple key...

Innovative nature of triple key management The triple key management scheme provides secure services by combining different techniques whic contribute to the security and priv

Explain the concept of zero knowledge proofs, (a) Describe the concept of ...

(a) Describe the concept of zero knowledge proofs. Give a practical example. (b) Explain how a one way hash function works. (c) What are message authentication codes? (d)

Explain major differences between wpa and wpa2, Question: Suppose the f...

Question: Suppose the following brief history of WLAN security standards: When the security of WEP was broken, the industry turned to the IEEE to fix it. The IEEE said it could

Public key infrastructure (pki)-cryptography, Public Key Infrastructure (PK...

Public Key Infrastructure (PKI) It is integrated system of software, encryption methodologies, protocols, legal agreements, and 3rd-party services enabling users to communicate

Example of a public key algorithm, Question : (a) There are two approa...

Question : (a) There are two approaches for providing confidentiality for packets in a network using symmetric encryption: End-to-End Encryption and Link Encryption. State wh

Limitations of firewall, Limitations of firewall Firewalls cannot prote...

Limitations of firewall Firewalls cannot protect a network if security rules are not followed properly by an organization or if the rules are not defined properly. Firewalls ar

Function of key secrecy and algorithm secrecy in security, What is the func...

What is the function of key secrecy and algorithm secrecy in security?  Algorithm Secrecy is explained as follows: ‘Algorithm secrecy’ is a method of keeping an algorithm

Error reporting mechanism (icmp), ERROR REPORTING MECHANISM (ICMP) INT...

ERROR REPORTING MECHANISM (ICMP) INTRODUCTION:  IP gives best-effort delivery. Delivery causes can be ignored; datagrams may be 'dropped on the ground'. Internet Control Me

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd