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Problem Analysis of Traditional IT-Security Risk Assessment Methods – An Experience Report from the Insurance and Auditing Domain

  • Stefan Taubenberger
  • Jan Jürjens
  • Yijun Yu
  • Bashar Nuseibeh
Part of the IFIP Advances in Information and Communication Technology book series (IFIPAICT, volume 354)

Abstract

Traditional information technology (IT) security risk assessment approaches are based on an analysis of events, probabilities and impacts. In practice, security experts often find it difficult to determine IT risks reliably with precision. In this paper, we review the risk determination steps of traditional risk assessment approaches and report on our experience of using such approaches. Our experience is based on performing IT audits and IT business insurance cover assessments within a reinsurance company. The paper concludes with a summary of issues concerning traditional approaches that are related to the identification and evaluation of events, probabilities and impacts. We also conclude that there is a need to develop alternative approaches, and suggest a security requirements-based risk assessment approach without events and probabilities.

Keywords

IT risk analysis IT risk assessment Security requirements 

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Copyright information

© IFIP International Federation for Information Processing 2011

Authors and Affiliations

  • Stefan Taubenberger
    • 1
  • Jan Jürjens
    • 2
  • Yijun Yu
    • 3
  • Bashar Nuseibeh
    • 3
    • 4
  1. 1.MunichReMunichGermany
  2. 2.TU Dortmund and Fraunhofer ISSTGermany
  3. 3.LeroUniversity of LimerickIreland
  4. 4.The Open UniversityMilton KeynesUnited Kingdom

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