Risk Managment 8 Flashcards
What are the three categories of security assessment
Risk
Threat
Vulnerability
What is risk management
A cyclical process that includes four phases:
Identify and assess risks that exist in a system
Analyze the potential impact risks will have on a system
Formulate a strategy on how to respond to risks
Mitigate the impact of risks for future security
Describe the risk security assessment
An evaluation of an organization, a portion of an organization, an information system, or system components to assess the security risk
Describe the threat security assessment
An evaluation of known threats to an organization and the potential damage to business operations and systems.
An important element s determining the means by which an attacker can carry out a security attack or threat vector
Describe the vulnerability security assessment
An evaluation used to find security weaknesses within an organization.
Name and describe the types of risks
Natural. Related to weather. Ex earthquakes, wildfires etc
Man made. Residual occurrences of individual activity. Ex: arson, terrorist attacks, break-ins, theft, computing mistakes, information disclosure
System. Related to weaknesses within a network, service, application, or device. Ex: unsecured mobile devices, unstable virtualization environments, unsecured network devices etc
Risk analysis is the security process used for assessing risk damages that can affect an organization. There are six phases in the risk analysis process.
- Assess identification. Id the assets that require protection and determining the value of assets.
- Vulnerability identification. Confirm where asset protection problems exist. Vulnerability scanning is a method used to determine weaknesses in systems.
- Threat assessment. The threats that may take advantage of those vulnerability are determined.
- Probability quantification. The likelihood that threats will exploit vulnerabilities
- Impact analysis. The impact of recovering from damage and implementing preventive measures
- Countermeasures determination. Countermeasures must not cost more the the expected loss caused by threats that exploit vulnerabilities.
Components of risk analysis
Determine vulnerabilities that a threat can exploit
Determine The possibility of damage occurring
Determine The extent of potential damage
Describe the three risk analysis methods.
Qualitative. Use descriptions to measure the amount and impact of risk. Scenario based.
Quantitative. Based on numeric values.
Semi-quantitative. Uses a description associated with a numeric value. Finds a middle ground between qualitative and quantitative.
What is risk calculation
Focuses on financial and operational loss impact and locates threat exploitation indicators in an organization.
A formula that takes into account the worth of each asset, the potential impact of each risk, and the likelihood of each threat, and then weighs that against the costs of alleviating system vulnerabilities.
Used to determine the single loss expectancy SLE Or the annual loss expectancy ALE for each risk identified.
SLE represents the financial Loss expected from a specific adverse event
ALE value calculated by multiplying an SLE by its annual rate of occurrence ARO to determine the total cost of a risk on an annual basis
What is a vulnerability table
A strategic tool for completing a vulnerability assessment. Allows for the identification of likely threats or vulnerabilities, record impact, and then prioritize mitigation efforts.
What are the five risk response strategies
Avoidance Transference Acceptance Mitigation Deterrence
Describe avoidance risk response strategy
Used to eliminate risk all together by eliminating the cause.
Describe transference risk response strategy
Used to allocate the responsibility of risk to another agency or to a third party
Describe acceptance risk response strategy
This is the acknowledgment and acceptance of the risk and consequences that come with it. Recognizing that the risk involved is not entirely avoidable.
Describe mitigation risk response strategy
Protect against possible attacks and are implemented when the impact of a potential risk is substantial. May come in the form of active defenses like IDSs or cautionary measures like backing up at risk data
Describe deterrence risk response strategy
Involves applying changes to the conditions to make it less enticing for an attacker to launch an attack. May include physical security like checkpoints outside and inside if the building.
Risk can be mitigated by implementing the appropriate security controls. List the four major control types
Technical controls
Management controls
Operational controls
Loss controls
Describe technical controls
Hardware or software installations that are implemented to monitor and prevent threats and attacks to computer systems and services. Like network firewall