A modified mean value approach to assess security risk.
Albin Zuccato · Information Security for South Africa · 2002
As eCommerce security risk assessment, where the conventional methods of risk analysis are implemented, have lead continuously to problems, it is reasonable to assume that a faster and more business centric method to assess security risk can be helpful. In this paper, a modified mean value approach, which is supposed to be quickly conducted and understandable also for business people, is proposed. The approach is based on a mean value decision scenario enhanced with risk attitudes and consolidated to reflect the time behavior requirements. Economic research has proven that different risk attitudes are to expect for different risk scenarios, and therefore we give an example of the flexibility of the approach working with these different attitudes during one assessment session.