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| Name | Security Risk Assessment (Qualitative Vs Quantitative) |
| Video Uploader | Video From Let's Uncomplicate |
| Upload Date | This Video Uploaded At 24-10-2017 11:47:56 |
| Video Discription | Now that we are clear of certain basic security definitions such as threat, vulnerability, asset and risk and their relationship along with the concepts they represent. We are ready to dive in a little bit deeper in the subject. Actually, Risk assessment is a tool for risk management by which we identify threats and vulnerabilities and assess the possible impact on asset to determine where to implement security safeguards. There are different standardized methodologies when it comes to carrying out risk assessment. But each of the methodologies has the same basic core components. (Identify threats and vulnerabilities and associate them with the assets to calculate likelihood and business impact) The approaches to risk assessment can be quantitative or qualitative or sometimes mix of the two. A quantitative risk assessment uses monetary and numeric values to all elements of the risk assessment process be it asset, threat, vulnerability, impact or safeguards. It is more of a scientific or mathematical approach compared to Qualitative. On the other hand, a qualitative risk assessment does not assign numbers and monetary values to components and loses. Instead, it is more opinion and scenario based and uses a rating system to relay the risk levels. Since a purely quantitative assessment is close to impossible and a purely qualitative process does not provide enough statistical data for financial decisions, these two assessment techniques can be fused together in a hybrid approach. Each method has its advantages and disadvantages. The goal of either method is to estimate a company’s real risk so that the correct countermeasures can be put into place within a practical budget. Now that we know, what is a risk assessment and the approaches to it. In the next video we will be starting with the SRA process. Qz0dkNgbm_Q |
| Category | Education |
| Tags | security | risk | assessment | security risk assessment | qualitative | quantitative | asset | threat | vulnerability | impact or safeguards | assets | risk assessment | risk management | scenario analysis | api | ansi | cobit | 31000 | risk analysis | sanjay yadav | sanjay yadav cpp cfe | information security | infosec | gurucool | coolguru | guru cool |
