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Factor analysis of information risk (FAIR) is a taxonomy of the factors that contribute to risk and how they affect each other. It is primarily concerned with establishing accurate probabilities for the frequency and magnitude of data loss events. It is not a methodology for performing an enterprise (or individual) risk assessment. [1]
Information technology risk, IT risk, IT-related risk, or cyber risk is any risk relating to information technology. [1] While information has long been appreciated as a valuable and important asset, the rise of the knowledge economy and the Digital Revolution has led to organizations becoming increasingly dependent on information, information processing and especially IT.
Risk assessment determines possible mishaps, their likelihood and consequences, and the tolerances for such events. [1] [2] The results of this process may be expressed in a quantitative or qualitative fashion. Risk assessment is an inherent part of a broader risk management strategy to help reduce any potential risk-related consequences. [1] [3]
Decentralized Internet of things, or decentralized IoT, is a modified IoT which utilizes fog computing to handle and balance requests of connected IoT devices in order to reduce loading on the cloud servers and improve responsiveness for latency-sensitive IoT applications like vital signs monitoring of patients, vehicle-to-vehicle communication ...
A cyber security risk mitigating end user program could consist of a combination of multiple approaches including cyber security awareness, cyber security training, and cyber security education. According to, and adopted from, [1] see the below table that provides a comparison of the approaches.
ISO/IEC 27005 "Information technology — Security techniques — Information security risk management" is an international standard published by the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC) providing good practice guidance on managing risks to information. [1]
For example, a Deloitte report states that by implementing an IIOT solution integrating data from multiple internal and external sources (such as work management system, control center, pipeline attributes, risk scores, inline inspection findings, planned assessments, and leak history), thousands of miles of pipes can be monitored in real-time.
Internet of Things (IoT) security devices are electronic tools connected via Internet to a common network and are used to provide security measures. These devices can be controlled remotely through a mobile application, web-based interface or any proprietary installed software, and they often have capabilities such as remote video monitoring, intrusion detection, automatic alerts, and smart ...