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Methodology of Quantitative Assessment of Network Cyber Threats Using a Risk-Based Approach

Zhylin Artem, Holych Hanna

Applied Cybersecurity & Internet Governance

2024

Vol. 3, No. 1

227--260

The methodology of a quantitative assessment of organisation’s network cyber threats was developed in order to quantitatively assess and compare the cybersecurity threat landscape in conditions of limited data while applying the risk-oriented approach. It can be used either for assessing the level of network cyber threats of a particular organisation (as a quantitative measure of the criticality of cyber threats that are detected within the organisation’s network) or for comparing the level of network cyber threats of several organisations during the same or different time periods, giving grounds for supporting the process of making managerial decisions regarding the organisation’s cybersecurity strategy. The proposed scheme of the algorithm can be used to automate the calculation process. The assessment of network cyber threats that are considered in the article is not a full-fledged measure of the cyber risk because the methodology was developed considering the common circumstances of the deficiency of the risk context data. Nevertheless, the results of the methodology implementation partially reflect the overall level of the organisation’s cyber risk and are expected to be used in the case when the full-featured proper cyber threats assessment can’t be organised for some reason.