Risk analysis Flashcards

1
Q

What is a definition for risk?

A

The possibility to suffer harm or loss

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2
Q

What are three distinguishing characteristics of a risk?

A
  • the associated loss
  • the likelihood that the event will occur
  • the degree to which the event can be influenced
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3
Q

Name 4 strategies for handling risk

A

Avoiding, mitigating, transferring, assuming

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4
Q

What is risk analysis?

A

Risk analysis is the process of examining a system and its operational environment to determine possible exposures and the possible harm they can cause.

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5
Q

What is risk managment?

A

Risk management then involves the identification, selection and adoption of security measures justified by:

  • the identified risk to assets
  • the employment of measures to reduce the risk to an acceptable extent
  • the cost of these measures
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6
Q

What are the 6 steps of qualitative risk analysis?

A
  1. Determine the scope, identify assets, assemble team
  2. Identify threats and vulnerabilities
  3. Prioritize threats, determine impact priorities and total threat impact
  4. Identify safeguards
  5. Cost-benefit analysis and prioritization of safeguards
  6. Report
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