When Conducting a Risk Management Analysis, Each of the Following

question 87

Multiple Choice

When conducting a risk management analysis, each of the following factors is used to calculate expected loss except:

• A) Probability of attack estimate, based on judgment)
• B) Probability of attack being successful estimate, based on judgment)
• C) Probability of attack remaining undetected estimate, based on judgment)
• D) Loss occurring if attack is successful typically expressed in financial units,
• E)g. dollars)

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Definitions:

Sunk Cost Bias

The decision to continue an investment based on past investments of time, effort, and/or money.

Projection Bias

The tendency to mistakenly assume that others share one's current thoughts, feelings, or attitudes.

Randomness Error

An error that occurs when there is no discernible pattern or cause in the mistake or variability.

Intuition

An unconscious process of making decisions based on imagination and possibilities.