3 Questions
Which one of the following best describes security?
A process of mitigating risk
What is the definition of risk?
The possibility of a threat exploiting a vulnerability within an asset
How can we quantify the possibility of risk?
Risk = (likelihood of event) x (impact)
Study Notes
Security
- Security refers to the protection of assets, data, and information from unauthorized access, use, disclosure, disruption, modification, or destruction.
- It involves the implementation of measures to prevent, detect, and respond to threats, vulnerabilities, and attacks.
Risk
- Risk is the likelihood and potential impact of an event or situation that could have a negative effect on an organization or individual.
- It is a situation involving exposure to danger, which may result in loss, injury, or other negative consequences.
Quantifying Risk
- Probability is a measure of the likelihood of a risk occurring, expressed as a number between 0 (impossible) and 1 (certain).
- Impact is the potential magnitude of the loss or damage resulting from a risk, measured in terms of financial, operational, or reputational effects.
- Risk can be quantified using a risk matrix, which plots the probability of a risk against its potential impact, resulting in a rating of low, moderate, or high risk.
Test your knowledge on security and risk management with this quiz. Learn about the concept of security, the definition of risk, and how to quantify and mitigate it. Explore terms like threat, vulnerability, likelihood, and impact. Challenge yourself to understand the continuous process of managing risk in order to safeguard assets.
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