Which of the following statements pertaining to quantitative risk analysis is false?
Click on the arrows to vote for the correct answer
A. B. C. D.D.
Assigning the values for the inputs to a purely quantitative risk assessment requires both a lot of time and significant experience on the part of the assessors.
The most experienced employees or representatives from each of the departments would be involved in the process.
It is NOT an easy task if you wish to come up with accurate values.
"It can be automated" is incorrect.
There are a number of tools on the market that automate the process of conducting a quantitative risk assessment.
"It involves complex calculations" is incorrect.
The calculations are simple for basic scenarios but could become fairly complex for large cases.
The formulas have to be applied correctly.
"It requires a high volume of information" is incorrect.
Large amounts of information are required in order to develop reasonable and defensible values for the inputs to the quantitative risk assessment.
References: CBK, pp.
60-61 - AIO3, p.
73, 78 - The Cissp Prep Guide - Mastering The Ten Domains Of Computer Security - 2001, page 24
Quantitative risk analysis is a type of risk analysis that involves a numerical or quantitative assessment of the likelihood and impact of potential risks. This process is typically used to determine the monetary value of risk to an organization, and to prioritize the mitigation of those risks.
Now, let's review each answer option to determine which statement pertaining to quantitative risk analysis is false:
A. Portion of it can be automated - True. Quantitative risk analysis can be partially automated using risk analysis tools and software.
B. It involves complex calculations - True. Quantitative risk analysis involves complex calculations, such as probability distributions, expected values, and standard deviations.
C. It requires a high volume of information - True. Quantitative risk analysis requires a significant amount of data, including historical data, current data, and projections.
D. It requires little experience to apply - False. Quantitative risk analysis requires significant experience and expertise in risk management, statistics, and data analysis. It involves a rigorous process that requires a deep understanding of the organization's operations, risk tolerance, and potential impacts.
Therefore, the false statement pertaining to quantitative risk analysis is:
D. It requires little experience to apply.