After a risk assessment is performed, a particular risk is considered to have the potential of costing the organization 1.2 Million USD. This is an example of
This method involves assigning numerical values to risks, typically in monetary terms, to assess potential impacts.
The example provided (1.2 Million USD) is a direct application of quantitative analysis.
Purpose of Quantitative Analysis:
Helps in prioritizing risks based on their financial implications and aids in decision-making for risk mitigation strategies.
Supporting Reference:
The CCISO framework explains quantitative risk analysis as part of enterprise risk assessment to quantify and prioritize risks effectively.
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