Risk Assessment Dr. Md Abdur Rahman Qualitative and Quantitative Analysis
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Questions and Answers

What is the main difference between Qualitative RISK and Quantitative RISK?

  • Quantitative RISK deals with high budgets while Qualitative RISK deals with low budgets.
  • Quantitative RISK is easy to handle while Qualitative RISK is more complex.
  • Quantitative RISK relies on experience while Qualitative RISK involves financial implications.
  • Quantitative RISK involves cost estimates while Qualitative RISK involves subjective judgments. (correct)

    • What type of risk is highlighted in the statement 'BYOD – Because risk is HIGH and savings is high'?

  • Management risk
  • Qualitative risk (correct)
  • Quantitative risk
  • Operational risk

    • Why does handling the risk of HDD Failure and motherboard burn fall under Qualitative RISK?

  • It directly impacts cost savings.
  • It requires a high budget allocation.
  • It involves subjective judgments about the severity of these risks. (correct)
  • It can be quantified easily.

    • In the given context, why might handling Qualitative RISK be challenging?

    <p>Difficulty in assigning numerical values to risks.</p> Signup and view all the answers

    What would be a typical approach to handling a Qualitative RISK like 'motherboard burn'?

    <p>Seeking expert opinions and experiences.</p> Signup and view all the answers

    What is the primary focus of Risk Mitigation according to the text?

    <p>Minimizing the impact of vulnerabilities</p> Signup and view all the answers

    Which action is NOT suggested in the text as part of Risk Transference?

    <p>SMB V1 shutdown</p> Signup and view all the answers

    What is the possible outcome of shutting down SMB V1 as mentioned in the text?

    <p>Reduced likelihood of operational consequences</p> Signup and view all the answers

    In which case might it be more cost-effective to accept a security risk according to the text?

    <p>When mitigating the risk is more expensive than accepting it</p> Signup and view all the answers

    Why is it essential for organizations to consider both Security Risk and Operational Consequences together?

    <p>To understand the full impact of a security breach</p> Signup and view all the answers

    What is a recommended policy that a Cyber Security Expert may suggest to enhance security in the network environment?

    <p>Verifying any command by a second person before execution</p> Signup and view all the answers

    How can an organization transfer the risk to another entity according to the text?

    <p>Having a warranty with a third party</p> Signup and view all the answers

    What action can mitigate the risk of Wannacry infection through flash memory within an intranet?

    <p>Blocking incoming connections at port 445 in the firewall</p> Signup and view all the answers

    In the context of minimizing risk to an acceptable level, what is NOT mentioned as a recommended action against risks like going to the grocery store?

    <p>Avoiding crowded areas</p> Signup and view all the answers

    What is a potential downside of implementing a policy where any command must be verified by a second person before execution?

    <p>Increased operational cost</p> Signup and view all the answers

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