Calculating risk – a comprehensive look at qualitative and quantitative risk assessments

Effective information security risk management requires a thorough understanding of an organization’s potential threats. To address this need, security professionals rely on risk assessments, which can be broadly classified into two main categories: qualitative and quantitative. We will delve deeper into these methodologies’ characteristics, advantages, and disadvantages while also providing insights into identifying threats and selecting the most suitable approach for your organization.

Qualitative risk analysis – subjective evaluation of threats

Qualitative risk assessments rely on subjective evaluations, where experts estimate the likelihood of a risk occurring and its potential impact on the organization. This method does not involve any mathematical calculations or specific numerical values. Instead, it allows security professionals to rank risks on a subjective...