Security Basics mailing list archives

Re: Risk Assessment/Management - OCTAVE


From: Fred Cohen <fred.cohen () all net>
Date: Mon, 31 Oct 2005 12:34:33 -0800

My big problems with OCTAVE are that it largely relies on non- enumerable lists, the expertise of the person applying it, has lots of detail and rigor and precision, but no accuracy that I can find, and it is entirely technical in orientation and ignores most of the vital element of business decision-making that is the core of risk management. I should also mention that it completely ignores the ides of risk transfer and avoidance in favor of mitigation and acceptance, and as such is fairly unrealistic in terms of outcomes. It is also very hard to explain to executive management (the CEO) who has to actually make these decisions.

On Oct 31, 2005, at 10:48 AM, Simon Borduas wrote:

Hi Mark,

As far as Real life, down to earth methodology. I really Like the
OCTAVE approach. It will take you by the hand and assist you to make
your RA like an expert ;)

http://www.cert.org/octave/methodintro.html

And the best thing about it... It's totally free.


On 29 Oct 2005 at 18:02, Mark Brunner wrote:


I am looking for a tool, template or clear example of how to perform a Risk Assessment, and then manage the mitigation or acceptance of risk. I've read a lot of the available information regarding the theory, methodologies and strategy, but am having a real hard time taking the concepts and applying them to real world items. I've boiled my risk assessment effort to 5 key
questions to start with for ease of creating some kind of matrix
(spreadsheet for now).

For instance, I try to use the following:
1. What are the resources - Information & Information Systems - I'm actually
interested in protecting?
Easy enough to figure out which are the critical items once an inventory is
made and relationships are established.

2.    What is the value of those resources, monetary or otherwise?
Easy enough to get the replacement costs of hardware, software, config time, etc. but how do you valuate the data? Based on time and effort to
recreate?

3. What are the all the possible threats that that those resources face? Where can I get a compendium of risks to apply to each item for Yes/No
response?

4.    What is the likelihood of those threats being realized?
    Am I supposed to GUESS at this?  How to quantify?

5. What would be the impact of those threats on my business or personal
life, if they were realized?
    Easy enough to figure out, based on criticality and function.

I would appreciate any assistance offered.  I'm floundering...

Thanks,
Mark



--
Simon Borduas, CISSP
Chief Security Officer / Chef de la sécurité
HyperTec Group / Groupe HyperTec
Tel: (514) 745.4540 x 5740
Fax: (514) 745.0937
http://www.hypertec-group.com





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