Assessing Business Value of IT and IS Risk: Security Issues

Enterprise systems have taken full advantage of Information Technology (IT) and Information Systems (IS) to innovate and to create business value. The principal business value for system is utility. System utility is a complex factor that has many contributing variables and the resultant of business value. The metrics of utility are measures such as up-time, customer satisfaction, and so on. In this paper the concern of security as the protection of information assets is discussed in relation to managing the risk of utility. Risk modeling has come under greater scrutiny since the collapse of global financial markets in 2008. A common criticism is that risk models disengage business layers and foster surrogates that anesthetize prudent virtues within the enterprise system. The discussion in this essay proceeds by elaborating current risk modeling trends and concludes by promoting an awareness of the changing scope and expectations for effective business security risk analysis

Estimating ToE Risk Level using CVSS

Security management is about calculated risk and requires continuous evaluation to ensure cost, time and resource effectiveness. Parts of which is to make future-oriented, cost-benefit investments in security. Security investments must adhere to healthy business principles where both security and financial aspects play an important role. Information on the current and potential risk level is essential to successfully trade-off security and financial aspects. Risk level is the combination of the frequency and impact of a potential unwanted event, often referred to as a security threat or misuse. The paper presents a risk level estimation model that derives risk level as a conditional probability over frequency and impact estimates. The frequency and impact estimates are derived from a set of attributes specified in the Common Vulnerability Scoring System (CVSS). The model works on the level of vulnerabilities (just as the CVSS) and is able to compose vulnerabilities into service levels. The service levels define the potential risk levels and are modelled as a Markov process, which are then used to predict the risk level at a particular time

Trust economics feasibility study

We believe that enterprises and other organisations currently lack sophisticated methods and tools to determine if and how IT changes should be introduced in an organisation, such that objective, measurable goals are met. This is especially true when dealing with security-related IT decisions. We report on a feasibility study, Trust Economics, conducted to demonstrate that such methodology can be developed. Assuming a deep understanding of the IT involved, the main components of our trust economics approach are: (i) assess the economic or financial impact of IT security solutions; (ii) determine how humans interact with or respond to IT security solutions; (iii) based on above, use probabilistic and stochastic modelling tools to analyse the consequences of IT security decisions. In the feasibility study we apply the trust economics methodology to address how enterprises should protect themselves against accidental or malicious misuse of USB memory sticks, an acute problem in many industries

Benchmarking performance management systems

The Balanced Scorecard and associated performance management approaches, has become a widely practiced and popular management reporting method in recent times. Moreover, enabling technology, which assists in the delivery and personalisation of corporate performance information, is having a deeper and more rapid impact than ever before. This paper presents a brief comparative benchmarking study of leading enterprise performance management systems. Also, the author discusses the merits of bespoke internet technology development and out-of-the-box portal functionalities. An analysis of key business drivers and implementation risks of such approaches is highlighted via a case study example, and concludes the paper

Scalable secure multi-party network vulnerability analysis via symbolic optimization

Threat propagation analysis is a valuable tool in improving the cyber resilience of enterprise networks. As these networks are interconnected and threats can propagate not only within but also across networks, a holistic view of the entire network can reveal threat propagation trajectories unobservable from within a single enterprise. However, companies are reluctant to share internal vulnerability measurement data as it is highly sensitive and (if leaked) possibly damaging. Secure Multi-Party Computation (MPC) addresses this concern. MPC is a cryptographic technique that allows distrusting parties to compute analytics over their joint data while protecting its confidentiality. In this work we apply MPC to threat propagation analysis on large, federated networks. To address the prohibitively high performance cost of general-purpose MPC we develop two novel applications of optimizations that can be leveraged to execute many relevant graph algorithms under MPC more efficiently: (1) dividing the computation into separate stages such that the first stage is executed privately by each party without MPC and the second stage is an MPC computation dealing with a much smaller shared network, and (2) optimizing the second stage by treating the execution of the analysis algorithm as a symbolic expression that can be optimized to reduce the number of costly operations and subsequently executed under MPC.We evaluate the scalability of this technique by analyzing the potential for threat propagation on examples of network graphs and propose several directions along which this work can be expanded

An Overview of Economic Approaches to Information Security Management

The increasing concerns of clients, particularly in online commerce, plus the impact of legislations on information security have compelled companies to put more resources in information security. As a result, senior managers in many organizations are now expressing a much greater interest in information security. However, the largest body of research related to preventing breaches is technical, focusing on such issues as encryption and access control. In contrast, research related to the economic aspects of information security is small but rapidly growing. The goal of this technical note is twofold: i) to provide the reader with an structured overview of the economic approaches to information security and ii) to identify potential research directions