The possible yearly cost of all instances of a specific realized threat against a specific asset. The ALE is calculated using the formula ALE = single loss expectancy (SLE) * annualized rate of occurrence (ARO). In risk assessment, the average monetary value of losses per year.
Similar items:
The cost associated with a single realized risk against a
specific asset. The SLE indicates the exact amount of loss an organization would experience if an asset were harmed by a specific threat. SLE = asset value ($) - exposure factor (EF).
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The expected frequency that a specific threat or risk will occur (in other words, become
realized) within a single year. Also known as probability determination.
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Possibility that a particular threat will adversely impact an information system by exploiting a particular vulnerability. The likelihood that any specific threat will exploit a specific
vulnerability to cause harm to an asset. Risk is an assessment of probability, possibility, or chance. Risk = threat - vulnerability. The probability that a particular security threat will exploit a particular vulnerability.
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An analysis that examines an organization’s information resources, its
existing controls, and its remaining organization and computer system vulnerabilities. It combines the loss potential for each resource or combination of resources with an estimated rate of occurrence to establish a potential level of damage in dollars or other assets. An element of risk management that includes analyzing an environment for risks, evaluating each risk as to its likelihood of occurring and cost of damage, assessing the cost of various countermeasures for each risk, and creating a
cost/benefit report for safeguards to present to upper management. Examination of information to identify the risk to an information system.
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A detailed process of identifying factors that could damage or disclose data, evaluating those factors in light of data value and countermeasure cost,
and implementing cost-effective solutions for mitigating or reducing risk. Process of managing risks to agency operations (including mission, functions, image, or reputation), agency assets, or individuals resulting from the operation of an information system. It includes risk assessment; costbenefit analysis; the selection, implementation, and assessment of security controls; and the formal authorization to operate the system. The process considers effectiveness, efficiency, and constraints due
to laws, directives, policies, or regulations. (NIST Special Pub 80053)The discipline of identifying and measuring security risks associated with an information system, and controlling and reducing those risks to an acceptable level. The goal of risk management is to invest organizational resources to mitigate security risks in a costeffective manner, while enabling timely and effective mission accomplishment. Risk management is an important aspect of information assurance and
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