VALUESEC: Mastering the Value Function of Security Measures

Project description

The Task of VALUESEC is defining, context modelling, weighting and quantifying attributes of costs and benefits, advantages and disadvantages of security measures, and demonstration of an application tool evaluating the different effects and the aggregated value of security measures. It will generate a knowledge base of the status and trends in theory and in practical applications of methods of economics applied to security decision making. The great challenge will be to combine economical (mostly quantitative) and societal effects (mostly qualitative) of security measures into a “value function” integrated it into a toolkit which will be flexible and user friendly, and applicable to a large spectrum of possible decisions in the security domain. Decisions supported by this tool will be more transparent and better rationalized than presently.

Participants: