Advanced Principles of Cyber Security Paper

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Computer Science

CS 666

CS

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Under what circumstances might it be more beneficial for an organization to utilize a quantitative risk assessment process? What are the pros and cons associated with quantitative risk assessment programs?

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Running head: QUANTITATIVE RISK ASSESSMENT
1

Quantitative Risk Assessment
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QUANTITATIVE RISK ASSESSMENT

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Quantitative Risk Assessment
Quantitative risk assessment helps to identify future effects of risks identified by an
organization on a project. The primary purpose of conducting a quantitative risk assessment is
to have accurate data to give reliable future outcomes. Quantitative Risk Analysis is beneficial
to organizations that deal with large projects because of their complex risk management
processes. For accurate predictions, historical data is vital during a quantitative risk assessment
process. If an organization's project requires a reliable contingency determination, uncertainty
range determination, and a more detailed project schedule, risk assessment processes will
produce a better outcome.
Some projects require a contingency reserve for the schedule and the cost.

A

contingency consists of the Monte Carlo simulation values and additional charges such as
portfolio management...


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