COST-BENEFITS ASPECTS IN RISK MANAGEMENT

Andrzej Bia³as ()
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Andrzej Bia³as: Institute of Innovative Technologies EMAG

Polish Journal of Management Studies, 2016, vol. 14, issue 1, 28-39

Abstract: The paper concerns advanced risk management in the security domain. This approach is based not only on the traditional risk assessment, but also on the financial cost-benefits analysis and on the identification of hidden, non-financial factors, which may harm the operations of security measures in the operational environment. The paper is related to the FP7 ValueSec project and presents its background, methodology and results. Special focus is placed on the cost-benefits assessment (CBA) of the proposed security measures. Cost and benefits categories are discussed along with the operation of the CBA component. The elaborated toolset is used to support decision makers in different security domains.

Keywords: risk management; cost-benefits approach; software tools for risk management (search for similar items in EconPapers)
Date: 2016
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