Re: Vulnerability vs. Risk Assessments

[Gary Dobbins <dobbins () ND EDU>]

While I definitely agree with the other responses, I also find this variant on the formula helpful when explaining to 
non-IT's or non-tech's:

Risk = Asset * Threat * Vulnerability

Asset represents what other formulae sometimes call "impact".  I just feel it's a bit more intuitive to call it "asset" 
since execs think of assets easily, so do accountants.

Drive any one of those three factors toward zero, and you affect risk directly.

e's.g.
Remove the asset, no risk.  Keep sensitive data out of harm's way.
Reduce threats, lower risk.   Block unnecessary traffic, encrypt laptops.
Reduce vulnerabilities, reduce risk.  Patch systems.

Nice thing about having Vulnerabilities in the formula is they are one of the factors you can sometimes directly 
control through system management.

Asset reduction can be done with data handling/access controls.

Threat reduction can be done with technical measures, but not always.




From: The EDUCAUSE Security Constituent Group Listserv [mailto:SECURITY () LISTSERV EDUCAUSE EDU] On Behalf Of Mike 
Waller
Sent: Wednesday, November 04, 2009 9:32 PM
To: SECURITY () LISTSERV EDUCAUSE EDU
Subject: Re: [SECURITY] Vulnerability vs. Risk Assessments

The below is a pretty good explanation. From my experience, a vulnerability assessment is a look at a 
system/site/application/firewall/whatever with an eye towards all of the vulnerable points. Once you identify the 
vulnerabilities, you would then move to a risk assessment by determining what the threat, potential impact and 
likelihoods are.
On Wed, Nov 4, 2009 at 9:13 PM, St Clair, Jim <Jim.StClair () gt com<mailto:Jim.StClair () gt com>> wrote:
Hi Chris,

Yes they are often used interchangeably, causing confusion. If you think of the risk formula (threat X impact X 
likelihood = risk) then a vulnerability assessment focuses on more technical issues (either a port is closed or not) 
while a risk assessment should be more specific to a business/ process (this open port creates high risk in web 
services supporting health records).

Both are useful, and should be conducted periodically. It's only unfortunate when a service provider calls it the 
latter but can only deliver the former.

James A. St.Clair, CISM, PMP
Senior Manager
Global Public Sector
Grant Thornton LLP
T  703-637-3078
F  703-637-4455
C  703-727-6332
E  jim.stclair () gt com<mailto:jim.stclair () gt com>



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-----Original Message-----

From: The EDUCAUSE Security Constituent Group Listserv [mailto:SECURITY () LISTSERV EDUCAUSE EDU<mailto:SECURITY () 
LISTSERV EDUCAUSE EDU>] On Behalf Of Chris Kidd
Sent: Wednesday, November 04, 2009 9:03 PM
To: SECURITY () LISTSERV EDUCAUSE EDU<mailto:SECURITY () LISTSERV EDUCAUSE EDU>
Subject: Vulnerability vs. Risk Assessments

I'm having a hard time articulating the difference between these two types of assessments, so I'm hoping someone can 
clearly define them. Any thoughts are appreciated.

Thanks,
Chris

Chris Kidd
Chief Information Security and Privacy Officer
The University of Utah
650 Komas Drive, Suite 102
Salt Lake City, UT 84108
Office: 801.587.9241
Cell: 801.747.9028
chris.kidd () utah edu<mailto:chris.kidd () utah edu>

http://www.secureit.utah.edu


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