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Published in:
2015 | OriginalPaper | Chapter
Which Measure of Risk Level to Use?
Authors : Atle Refsdal, Bjørnar Solhaug, Ketil Stølen
Published in: Cyber-Risk Management
Publisher: Springer International Publishing
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There is no universal agreement on how to measure risk. The definition of risk in ISO 31000, for example, comes with five notes, each defining risk in a slightly different way. Traditionally, risk value is a function of two factors, namely likelihood and consequence. However, within the field of cybersecurity, three-factor and many-factor definitions are gaining popularity. This chapter discusses the different alternatives and provides advice on when to use which.