Lifecycle of Cybersecurity Investments

Stefan Beissel ()

Chapter Chapter 6 in Cybersecurity Investments, 2016, pp 159-263 from Springer

Abstract: Abstract The decision making for selecting the most appropriate safeguard can be a very challenging task. Mostly, it is characterized, on the one hand, by strict time constraints and a tight budget and, on the other hand, by high quality requirements that must be met in order to prevent possible damages in case of security breaches, which can severely affect a company. Considering these conflicts, a straight and clear decision making process is described in this chapter. It facilitates the decision making while taking into account techniques from the decision theory and providing well-founded decision support under economic aspects. The decision making process is embedded in the lifecycle of cybersecurity investments, which includes 15 steps from initiation until termination. Every step from the lifecycle is illustrated with details from a comprehensive case study. Here, practical considerations for the lifecycle steps are demonstrated with a fictional company that seeks a solution for protecting confidential data. In the case study, two decision making techniques—the simple additive weighting and analytic hierarchy processing—are applied concurrently. The related calculations for ranking the alternatives are described in detail.

Keywords: Decision Maker; Business Process; Senior Management; Advance Encryption Standard; Risk Mitigation (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prochp:978-3-319-30460-1_6

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DOI: 10.1007/978-3-319-30460-1_6

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