Note: this blog is a mirror of my HP Labs Blog, on the same topic, accessible at: http://h30507.www3.hp.com/t5/Research-on-Security-and/bg-p/163

Monday, January 12, 2009

“Risk Taxonomy Technical Standard” Published by Open Group

Open Group has recently released a “Risk Taxonomy Technical Standard”, aiming at bringing some clarity to the terminology and concepts related to risk and risk management by introducing a taxonomy, definitions and their relationships:

Ian Dobson, whom announced this release, wrote:

“I'm pleased to announce that the Security Forum's Risk Taxonomy technical standard (C081) is now published. It is freely available from The Open Group's Online Bookstore. Through the link below you can either download the file, or read it on-line:
http://www.opengroup.org/onlinepubs/9699919899/toc.pdf

This Risk Taxonomy standard provides a taxonomy describing the factors that drive risk - their definitions and relationships. It also provides an overview on how to use the taxonomy. It responds to the problem that the risk management community worldwide has not yet adopted a consistent definition for even the most fundamental terms in its vocabulary - e.g. threat, vulnerability, even risk itself.
This Risk Taxonomy provides the necessary foundation vocabulary, based on a fundamental analysis of what risk is, and then shows how to apply it to produce the objective, meaningful, and consistent results that business managers need in order to make informed business decisions on how to manage risk.

The intended audience for this standard includes anyone who needs to understand and/or analyze a risk condition. A particular feature of this taxonomy is that it is not limited to application in the information security space; it can be applied to any risk scenario. This scenario-agnostic characteristic enables the taxonomy to be used as a foundation for normalizing the results of risk analyses across varied risk domains.”

--- Posted by Marco Casassa Mont (here and here) ---

--- NOTE: my original HP blog can be found here ---

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