Cyber Risk Quantification

Cyber risk quantification is the process of estimating the potential financial impact of a cyber attack. It involves identifying the assets that are at risk, assessing the likelihood of an attack, and calculating the potential cost of an attack. Cyber risk quantification can be used to prioritize security investments, make informed decisions about risk mitigation, and measure the effectiveness of security controls.

There are a number of different methods for cyber risk quantification. Some common methods include:

• Loss expectancy: This method estimates the potential financial loss from a cyber attack by multiplying the likelihood of an attack by the potential cost of an attack.
• Probability-impact analysis: This method estimates the potential financial loss from a cyber attack by considering the probability of an attack and the potential impact of an attack.
• Attack tree analysis: This method uses a tree-like structure to identify the different ways in which a cyber attack could occur and the potential consequences of each attack.

Cyber risk quantification is a complex and challenging task. However, it is an essential part of effective cyber security management. By understanding the potential financial impact of cyber attacks, organizations can take steps to mitigate those risks and protect their businesses.