On the cost of cyber security in smart business

Abstract

In a world, as complex and constantly changing as ours cloud computing is a driving force for shaping the IT landscape and changing the way we do business. Current trends show a world of people, things and services all digitally interconnected via the Internet of Things (IoT). This applies in particular to an industrial environment where smart devices and intelligent services pave the way for smart factories and smart businesses. This paper investigates in a use case driven study the potential of making use of smart devices to enable direct, automated and voice-controlled smart businesses. Furthermore, the paper presents an initial investigation on methodologies for measuring costs of cyber security controls for cloud services.

A Security Cost Modelling Framework for Cyber-Physical Systems

“…In other words, these solutions focus on evaluating whether a security control has been implemented or not and how much effort it takes (or how much it costs) to do so. This approach of measuring the costs of implementing security controls using money as a metric is similar to our first publication in [29]. The work of Naylor et al [41] comes closest to our presented approach in this article, where they used different metrics to measure the Security Costs of the Hypertext Transfer Protocol Secure (HTTPS).…”

“…This article builds on three publications from our previous work that lay the foundation towards developing the SCMF. The initial idea regarding measuring Security Costs was presented in [29], where we argued that providing security always produces an additional overhead that could be measured and analysed. However, this first publication mainly focused on how much money and time has to be spent to buy and implement security controls to design secure applications.…”

Towards a Security Cost Model for Cyber-Physical Systems

“…Nevertheless, in comparison to the identified related work, this paper provides a more general, interaction-based approach for evaluating security costs in CPS. This paper is a continuation of [26] where we introduced a high-level process flow based on Six Sigma for identifying, categorizing, analysing and eliminating security risks and measuring the resulting costs. This initial investigation included the evaluation of (i) how security risks of a smart business use case can be eliminated by implementing security controls, and (ii) how the resulting costs could be measured using a monetary cost metric (Euro).…”