Unified and formal knowledge models of the information security domain are fundamental requirements for supporting and enhancing existing risk management approaches. This paper describes a security ontology which provides an ontological structure for information security domain knowledge. Besides existing best-practice guidelines such as the German IT Grundschutz Manual also concrete knowledge of the considered organization is incorporated. An evaluation conducted by an information security expert team has shown that this knowledge model can be used to support a broad range of information security risk management approaches.

Purpose – The purpose of this paper is to give an overview of current risk management approaches and outline their commonalities and differences, evaluate current risk management approaches regarding their capability of supporting cost-efficient decisions without unnecessary security trade-offs, outline current fundamental problems in risk management based on industrial feedback and academic literature and provide potential solutions and research directions to address the identified problems. Despite decades of research, the information security risk management domain still faces numerous challenges which hinder risk managers to come up with sound risk management results. Design/methodology/approach – To identify the challenges in information security risk management, existing approaches are compared against each other, and as a result, an abstracted methodology is derived to align the problem and solution identification to its generic phases. The challenges have been identified based on literature surveys and industry feedback. Findings – As common problems at implementing information security risk management approaches, we identified the fields of asset and countermeasure inventory, asset value assignment, risk prediction, the overconfidence effect, knowledge sharing and risk vs. cost trade-offs. The reviewed risk management approaches do not explicitly provide mechanisms to support decision makers in making an appropriate risk versus cost trade-offs, but we identified academic approaches which fulfill this need. Originality/value – The paper provides a reference point for professionals and researchers by summing up the current challenges in the field of information security risk management. Therefore, the findings enable researchers to focus their work on the identified real-world challenges and thereby contribute to advance the information security risk management domain in a structured way. Practitioners can use the research results to identify common weaknesses and potential solutions in information security risk management programs.

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Abstract:Managing risks is of paramount importance for enabling a widespread adoption of cloud computing. Users need to understand the risks associated with the process of migrating applications and data, so that appropriate mechanisms can be taken into consideration. However, risk management in cloud computing differs from risk management in a traditional computing environment due to the unique characteristics of the cloud and the users' dependency on the cloud service provider for risk control. This paper presents a risk management framework to support users with cloud migration decisions. In particular, the framework enables users to identify risks, based on the relative importance of the migration goals and analyzed the risks with a semi-quantitative approach. This allows users to make accurate cloud migration decisions, based on specific migration scenarios. Our framework follows basic risk management principles and proposes a novel and structured process and a well-defined method for managing risks and making migration decisions. A practical migration use case about collaborative application such as e-mail and document migration is considered to demonstrate the applicability of our work. The results from the studied context show that risks in cloud computing mainly depend on the specific migration scenario and organization context. A cloud service provider is not alone responsible for mitigating all the risks; hence, depending on the type of risk, the cloud user is also responsible for risk mitigation.

Abstract. Threat analysis and mitigation, both essential for corporate security, are time consuming, complex and demand expert knowledge. We present an approach for simulating threats to corporate assets, taking the entire infrastructure into account. Using this approach effective countermeasures and their costs can be calculated quickly without expert knowledge and a subsequent security decisions will be based on objective criteria. The ontology used for the simulation is based on Landwehr's [ALRL04] taxonomy of computer security and dependability.

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