Quantitative Risk Analysis

Helms, J.

doi:10.2172/1345342

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DOE OSTI · 1345342

Quantitative Risk Analysis

Helms, J.

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Abstract

The US energy sector is vulnerable to multiple hazards including both natural disasters and malicious attacks from an intelligent adversary. The question that utility owners, operators and regulators face is how to prioritize their investments to mitigate the risks from a hazard that can have the most impact on the asset of interest. In order to be able to understand their risk landscape and develop a prioritized mitigation strategy, they must quantify risk in a consistent way across all hazards their asset is facing. Without being able to quantitatively measure risk, it is not possible to defensibly prioritize security investments or evaluate trade-offs between security and functionality. Development of a methodology that will consistently measure and quantify risk across different hazards is needed.

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Helms, J.. 2017-02-10. Quantitative Risk Analysis. https://doi.org/10.2172/1345342

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