New Findings Reported from Lancaster University Describe Advances in Risk Management (Analysis of Affordance, Time, and Adaptation in the Assessment…

New Findings Reported from Lancaster University Describe Advances in Risk Management (Analysis of Affordance, Time, and Adaptation in the Assessment of Industrial Control System Cybersecurity Risk)

By a News Reporter-Staff News Editor at Insurance Weekly News -- Fresh data on Risk Management are presented in a new report. According to news reporting originating in Lancaster, United Kingdom, by VerticalNews journalists, research stated, "Industrial control systems increasingly use standard communication protocols and are increasingly connected to public networks-creating substantial cybersecurity risks, especially when used in critical infrastructures such as electricity and water distribution systems. Methods of assessing risk in such systems have recognized for some time the way in which the strategies of potential adversaries and risk managers interact in defining the risk to which such systems are exposed."

Financial support for this research came from Seventh Framework Programme.

The news reporters obtained a quote from the research from Lancaster University, "But it is also important to consider the adaptations of the systems' operators and other legitimate users to risk controls, adaptations that often appear to undermine these controls, or shift the risk from one part of a system to another. Unlike the case with adversarial risk analysis, the adaptations of system users are typically orthogonal to the objective of minimizing or maximizing risk in the system. We argue that this need to analyze potential adaptations to risk controls is true for risk problems more generally, and we develop a framework for incorporating such adaptations into an assessment process. The method is based on the principle of affordances, and we show how this can be incorporated in an iterative procedure based on raising the minimum period of risk materialization above some threshold."

According to the news reporters, the research concluded: "We apply the method in a case study of a small European utility provider and discuss the observations arising from this."

For more information on this research see: Analysis of Affordance, Time, and Adaptation in the Assessment of Industrial Control System Cybersecurity Risk. Risk Analysis, 2017;():. (Wiley-Blackwell - www.wiley.com/; Risk Analysis - onlinelibrary.wiley.com/journal/10.1111/(ISSN)1539-6924)

Our news correspondents report that additional information may be obtained by contacting J.S. Busby, Dept. of Management Science, Lancaster University, Lancaster, UK. Additional authors for this research include B. Green and D. Hutchison.

Keywords for this news article include: Europe, Lancaster, United Kingdom, Risk Management.

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