| Risk management |
the process of identifying, assessing, and prioritizing organizational risk |
| Risk |
The potential of losing something that is of value to an organization
|
| Risk assessment |
the process of analyzing risk |
| Risk analysis |
analysis uses information to identify possible sources of risk and identify threats or events that could have a harmful impact |
| Countermeasures |
A measure taken to counter or offset a threat |
| Threat |
A danger that exploits a vulnerability to breach security |
| Security controls |
Safeguards or countermeasures implemented to minimize security risks. |
| Compliance |
Obligations to external authorities and information security reviews |
| Asset |
Any resource, product, system, process, or any other organizational resource that has value to an organization |
| Tangible assets |
Assets that have a physical presence and an identifiable value |
| Intangible assets |
Assets that are not physical but still represent a value to the organization’s image, its operations, and the ability to compete in the market |
| Quantitative Risk Analysis |
This type of risk analysis assigns independent, objective, numeric monetary values to the elements of risk assessment and the assessment of potential losses |
| Single Loss Expectancy
(SLE) |
The estimate of the amount of damage that an asset will suffer due to a single incident |
| Exposure Factor (EF) |
A potential percent of loss to a specific asset if a particular threat is realized. This is regarded as a subjective measure |
| Annual Rate of
Occurrence (ARO) |
the number of times per year that an incident is likely to occur |
| Annual Loss Expectancy (ALE) |
the yearly financial impact to the organization from a particular risk |
| Qualitative Risk Analysis |
Evaluates the impact or effect of threats on the business process or the
goals of the organization with a scenario-oriented, carefully reasoned risk
assessment |
| Risk mitigation |
Reducing the severity of a loss or the likelihood of the loss from occurring |
| Risk Exposure |
A quantifiable loss potential |