What are the steps involved in a quantitative assessment?
What will be an ideal response?
A quantitative assessment follows the following process:
Step 1- Identify all objects for assessment. These objects could include various components in the application or host system.
Step 2- Assign a numeric dollar value to each object.
Step 3- Provide a list of major threats posed against each object.
Step 4- Calculate the occurrence of chance per year. This could be done by historical data such as server down time, network provider down time, and so on.
Step 5- Estimate the potential loss in dollars per major threat in each object.
Step 6- Compute the annual loss expectancy (ALE) number. It is occurrence x potential loss.
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