Risk Assessment Approaches

The video tutorial covers risk assessment and management, focusing on calculating risk using the CIA (Confidentiality, Integrity, Availability) model. It explains how to assess risk by averaging CIA values and multiplying by probability. The tutorial compares asset-based and scenario-based approaches, highlighting their pros and cons. It also introduces the PDCA cycle for continuous risk management and assessment, emphasizing the importance of a comprehensive approach to ensure security objectives are met.

What is the first step in calculating risk according to the CIA model?

• Add the CIA values and divide by three

• Multiply the CIA values

• Subtract the CIA values

• Divide the CIA values by the probability

In the risk assessment example, what is the risk of having a laptop theft?

• 5

• 2

• 3

• 6

Which approach is easier to perform but may have exponential impact if multiple assets are affected?

• Scenario-based approach

• Asset-based approach

• Quantitative approach

• Qualitative approach

What is a downside of the scenario-based risk assessment approach?

• It is difficult to perform

• It cannot prepare for real-life scenarios

• It is too expensive

• It requires too many resources

What does the PDCA cycle stand for in risk management?

• Prepare-Direct-Control-Act

• Prepare-Develop-Control-Analyze

• Plan-Do-Check-Act

• Plan-Design-Create-Apply

What is the main goal of risk management?

• To ensure security controls meet objectives

• To eliminate all risks

• To reduce the cost of security

• To increase the number of assets

How are risk assessment and risk management related?

• Risk assessment is a subset of risk management

• Risk management is a subset of risk assessment

• They are independent processes

• They are unrelated