Introduction to Security
Risk Analysis

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Security risk analysis, otherwise known as risk assessment, is fundamental to the security of any organization. It is essential in ensuring that controls and expenditure are fully commensurate with the risks to which the organization is exposed.
However, many conventional methods for performing security risk analysis are becoming more and more untenable in terms of usability, flexibility, and critically… in terms of what they produce for the user.
This site is intended to explore the basic elements of risk, and to introduce a security risk assessment methodology and tool which is now used by many of the worlds major corporations. It also embraces the use of the same product to help ensure compliance with security policies, external standards (such as ISO 17799) and with legislation (such as Data Protection legislation). The following topics are covered:

Introduction To Security Risk Analysis and Risk Assessment

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Introduction To The COBRA Approach

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COBRA Risk Consultant Features

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The COBRA Security Risk Assessment Process

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COBRA Module Manager

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COBRA Risk Assessment & Security Risk Analysis Knowledge Bases

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Other COBRA Products

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Overview

Having reviewed these pages, you may wish to purchase the COBRA product or perhaps ** download the software ** for trial/evaluation.

Alternatively, if you have any questions on any aspect of this approach to risk analysis and security risk assessment, please do not hesitate to contact us.
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Quantitative Risk Analysis

This approach employs two fundamental elements; the probability of an event occurring and the likely loss should it occur. Quantitative risk analysis makes use of a single figure produced from these elements. This is called the ‘Annual Loss Expectancy (ALE)’ or the ‘Estimated Annual Cost (EAC)’. This is calculated for an event by simply multiplying the potential loss by the probability.

It is thus theoretically possible to rank events in order of risk (ALE) and to make decisions based upon this.

Qualitative Risk Analysis

This is by far the most widely used approach to risk analysis. Probability data is not required and only estimated potential loss is used.

Most qualitative risk analysis methodologies make use of a number of interrelated elements:
THREATS | VULNERABILITIES | CONTROLS

Location is everything

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