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Mastering the Value Function of Security Measures (VALUESEC)
Start date: Feb 1, 2011, End date: Jan 31, 2014 PROJECT  FINISHED 

"The Task of VALUESEC is defining, context modeling, weighting and quantifying attributes of costs and benefits, advantages and disadvantages of security measures, and demonstration of an application tool evaluating the different effects and the aggregated value of security measures.It will generate a knowledge base of the status and trends in theory and in practical applications of methods of economics applied to security decision making. The great challenge will be to combine economical (mostly quantitative) and societal effects (mostly qualitative) of security measures into a “value function”, one methodology framework and integrate it into a toolkit which will be flexible and user friendly, and applicable to a large spectrum of possible decisions in the security domain. Decisions supported by this tool will be more transparent and better rationalized than present.Project approach:- Problem Analysis and Requirements: Which typical problem classes should be addressed? Analyze and describe decision making processes and requirements for improvement.- Theories, Methodologies, Components: Which existing approaches to value and utility functions can be exploited to security decisions? Identification of innovation potential.- Design and usability: Which functions should the tool be capable to perform to provide for effective decision support? Define functionality, attributes and usable models and map them against identified problem classes- Development: How will the system work? Transformation of the models and utility function into applicable tools.- Evaluation: How do the implemented tools really work and help? Proof of the power and applicability of the tools in realistic use cases.- Dissemination and exploitation: How will findings and results be propagated and brought to practical use? How should research on security economics continue? Help pave the way to a future with more transparent and valuable security decisions."

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