Describe the differences between qualitative and quantitative risk management methods..
Answer each response to a single essay question should be about a half page in length (about 150 words).
- 1. About two methods of risk analysis: Quantitative assessment and qualitative assessment.
Explain the steps taken to assess a risk from a quantitative perspective where monetary and
numeric values are assigned and discuss the formulas used to quantify risk.
Then, explain the methods used to assess risk from a qualitative
perspective where intangible values are evaluated such as the seriousness
of the risk or ramifications to the reputation of the company.
- 2. Domain 1 introduced numerous security terms that are used in assessing
risk. Please define the terms vulnerability, threat, threat agent, risk,
exposure and control. Then, describe the three different control types and
give examples for each.
- 3. After you’ve conducted your risk assessment and determined the amount
of total and residual risk, you must decide how to handle it. Describe the
four basic ways of handling risk.
- 4. Describe the differences between qualitative and quantitative risk management methods.
- 5. In your own words describe what is meant by “defense-in-depth” in security design. Give an example of a combination of security controls that you have seen implemented that show how the combination of security factors improve the overall security.