Risk Quantification Framework

Abstract

In this chapter about the risk quantification framework¹, first, the model – including its parameters as well as related equations and algorithms – is introduced. The model supports risk management by efficiently aggregating the individual risks for the decomposed parts of an IT scenario back to an overall risk. The second section describes simulation results regarding sensitivity analysis, identification of cost drivers, and the introduction of inaccuracy. Third, the application of the proposed risk quantification framework using a real-life business process and a prototype of a SaaS-based implementation are presented.