Risk Management

Stefan Rass; Stefan Schauer; Sandra König; Quanyan Zhu

doi:10.1007/978-3-030-46908-5_6

Risk Management

Stefan Rass, Stefan Schauer, Sandra König, Quanyan Zhu

Electrical and Computer Engineering

Research output: Chapter in Book/Report/Conference proceeding › Chapter

Abstract

This chapter embeds game theoretic techniques and models inside the ISO31000 risk management process, as a generic template for the general duty of risk control. We observe similarities between risk management processes and extensive form games, accompanied by the possibility of using game-theoretic algorithms and methods in various steps of a risk management process. Examples include decision making for risk prioritization, choice of best risk mitigation actions or optimal resource allocation for security. To this end, we discuss a variety of systematic methods for adversarial risk analysis (ARA), resilience management (in relation to risk management), level-k thinking, and the assessment of action spaces and utilities for games.

Original language	English (US)
Title of host publication	Advanced Sciences and Technologies for Security Applications
Publisher	Springer
Pages	117-135
Number of pages	19
DOIs	https://doi.org/10.1007/978-3-030-46908-5_6
State	Published - 2020

Publication series

Name	Advanced Sciences and Technologies for Security Applications
ISSN (Print)	1613-5113
ISSN (Electronic)	2363-9466

ASJC Scopus subject areas

Safety, Risk, Reliability and Quality
Safety Research
Political Science and International Relations
Computer Science Applications
Computer Networks and Communications
Health, Toxicology and Mutagenesis

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10.1007/978-3-030-46908-5_6

Cite this

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AU - Schauer, Stefan

AU - König, Sandra

AU - Zhu, Quanyan

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AB - This chapter embeds game theoretic techniques and models inside the ISO31000 risk management process, as a generic template for the general duty of risk control. We observe similarities between risk management processes and extensive form games, accompanied by the possibility of using game-theoretic algorithms and methods in various steps of a risk management process. Examples include decision making for risk prioritization, choice of best risk mitigation actions or optimal resource allocation for security. To this end, we discuss a variety of systematic methods for adversarial risk analysis (ARA), resilience management (in relation to risk management), level-k thinking, and the assessment of action spaces and utilities for games.

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Risk Management

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