Cost-effectiveness of Security Measures: A model-based Framework

TitleCost-effectiveness of Security Measures: A model-based Framework
Publication TypeBook Chapter
Year of Publication2014
AuthorsPieters W., Probst C.W, Lukszo S., Montoya L.
EditorTsiakis T., Kargidis T., Katsaros P.
Book TitleApproaches and Processes for Managing the Economics of Information Systems
PublisherIGI Global
CityHershey, PA, USA

Recently, cyber security has become an important topic on the agenda of many organisations. It is already widely acknowledged that attacks do happen, and decision makers face the problem of how to respond. As it is almost impossible to secure a complex system completely, it is important to have an adequate estimate of the effectiveness of security measures when making investment decisions. Risk concepts are known in principle, but estimating the effectiveness of countermeasure proves to be difficult and cannot be achieved by qualitative approaches only. In this chapter, we consider the question of how to guarantee cost-effectiveness of security measures. We investigate the possibility of using existing frameworks and tools, the challenges in a security context as opposed to a safety context, and directions for future research.