Losses

Question 1

6 Types of Losses

Answer 1

Productivity
Response
Replacement
Competitive Advantage
Fines and Judgements
Reputation

Question 2

Productivity

Answer 2

Reduction in orgs ability to make money.

Revenue not generated
Idle workers, etc.

Question 3

Response

Answer 3

Expenses associated with managing a loss event

IR
Forensics
Lawyers
Breach notification
Credit monitoring

(Primary and secondary losses)

Question 4

Replacement

Answer 4

Capital expense fore repairing and replacing lost of damaged hard/tangible assets

Buildings, computers, etc.

Question 5

Competitive Advantage

Answer 5

Losses from competitors obtaining trade secrets, M&A plans, etc.

Market share lost.

Requires obtaining info and then using it.

Question 6

Fines and judgements

Answer 6

Losses from legal and regulatory action (including contracts)

Fines
SLA Penalties
Judgements

Question 7

Reputation

Answer 7

Losses from external perception that value, competency, or ethics have diminished.

Reduced market share and increased cost of capital.

Question 8

What types of losses directly impact the primary stakeholder/organization?

Answer 8

Primary losses

Question 9

What are secondary losses the result of?

Answer 9

Reactions of secondary stakeholders.

Question 10

Primary loss types (mostly)

Answer 10

Productivity
Replacement
Response

Question 11

Secondary loss types (mostly)

Answer 11

Reputation
Competitive advantage
Fines and judgements
Response

Question 12

Loss type that is both primary and secondary

Answer 12

Response

Question 13

Secondary replacement cost example

Answer 13

Secondary stakeholders harm your organization (ex. damage from protests)