A company predicts rare disruptions that have not been reported in over ten years but have the capacity for large-scale harm. Which approach best addresses these disruptions when integrating them into a risk plan?
Conduct a comprehensive scenario study with stakeholder inputs, evaluate the possible impact on operations, and document relevant countermeasures
Focus on vendor assessments first to strengthen third-party agreements and determine next steps later
Apply system-wide security controls without exploring any specialized testing or event modeling
Limit the analysis to standard risk calculations based on event data from the past decade
Scenario-based risk analysis allows organizations to examine the potential consequences of rare, high-impact events by involving stakeholders, evaluating cascading effects, and planning specific countermeasures. This proactive approach contrasts with methods that rely only on past data, apply generic controls, or focus solely on vendor relationships. It ensures unique, large-scale disruptions are addressed with tailored risk strategies.
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Why is scenario-based risk analysis effective for rare, high-impact events?
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What role do stakeholders play in scenario-based risk analysis?
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How does scenario-based risk analysis differ from standard risk calculations?