scholarly journals Integrating cost–benefit analysis into the NIST Cybersecurity Framework via the Gordon–Loeb Model

2020 ◽  
Vol 6 (1) ◽  
Author(s):  
Lawrence A Gordon ◽  
Martin P Loeb ◽  
Lei Zhou
Keyword(s):  
Risk Management ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Cost Effective ◽  
Benefit Analysis ◽  
Logical Approach ◽  
Explicit Recognition ◽  
Effective Level ◽  
The Cost

Abstract The National Institute for Standards and Technology (NIST) Cybersecurity Framework has rapidly become a widely accepted approach to facilitating cybersecurity risk management within organizations. An insightful aspect of the NIST Cybersecurity Framework is its explicit recognition that the activities associated with managing cybersecurity risk are organization specific. The NIST Framework also recognizes that organizations should evaluate their cybersecurity risk management on a cost–benefit basis. The NIST Framework, however, does not provide guidance on how to carry out such a cost–benefit analysis. This article provides an approach for integrating cost–benefit analysis into the NIST Cybersecurity Framework. The Gordon–Loeb (GL) Model for cybersecurity investments is proposed as a basis for deriving a cost-effective level of spending on cybersecurity activities and for selecting the appropriate NIST Implementation Tier level. The analysis shows that the GL Model provides a logical approach to use when considering the cost–benefit aspects of cybersecurity investments during an organization’s process of selecting the most appropriate NIST Implementation Tier level. In addition, the cost–benefit approach provided in this article helps to identify conditions under which there is an incentive to move to a higher NIST Implementation Tier.

A Cost-Benefit Analysis of an Overseas Volunteer Mission to the Local Healthcare System

2021 ◽  
pp. 000313482199868
Author(s):  
Mahir Gachabayov ◽  
Lulejeta A. Latifi ◽  
Renato Rivera ◽  
Fancy S. Baluyot ◽  
Rifat Latifi
Keyword(s):  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Cost Effective ◽  
Benefit Analysis ◽  
Disability Adjusted Life ◽  
Life Years ◽  
Number Of Patients ◽  
The Cost ◽  
Local Healthcare ◽  
Over Time

Background The aim of this study was to comparatively evaluate the sustainability and cost-benefit of the Operation Giving Back Bohol surgical volunteerism mission (SVM) carried out in Bohol Province, Philippines, over twelve consecutive missions. Methods This was a cost-benefit analysis of prospectively collected financial data from twelve consecutive surgical volunteerism missions held between 2006 and 2018. The overall cost of an SVM and cost per patient were the endpoints of interest. Disability-adjusted life years (DALYs) and costs thereof were calculated for each patient undergoing surgery in the twelve SVMs. Results A mean of 112 ± 22 patients were included per year of the SVM. A statistically significant increasing trend in the overall cost of SVMs over time was found ( R2 = .469; P = .014). A nonsignificant decreasing trend in the cost per patient over time was found ( R2 = .007; P = .795). A total of 8811.71 DALYs were averted in the twelve SVMs. DALYs averted per year ranged between 474.02 (2009) and 969.16 (2012). Cost per a DALY averted ranged between $466.9 (2006) and $865.6 (2009). Comparison of the latter with GDP per capita showed that this SVM was “very cost-effective.” Conclusion The SVM contributes substantially to the health care system both clinically and financially. A total of 8812 DALYs were averted in these twelve SVMs. Costs per a DALY averted did not significantly change over the mission years. Increasing the number of patients served has increased the total cost of the mission with no impact on the cost per patient.

Use of programmable versus nonprogrammable shunts in the management of hydrocephalus secondary to aneurysmal subarachnoid hemorrhage: a retrospective study with cost-benefit analysis

2014 ◽  
Vol 121 (4) ◽  
pp. 899-903 ◽  
Author(s):  
Lester Lee ◽  
Nicolas K. K. King ◽  
Dinesh Kumar ◽  
Yew Poh Ng ◽  
Jai Rao ◽  
...  
Keyword(s):  
Subarachnoid Hemorrhage ◽  
Cost Benefit Analysis ◽  
Aneurysmal Subarachnoid Hemorrhage ◽  
Cost Benefit ◽  
Cost Effective ◽  
Functional Improvement ◽  
Shunt Revision ◽  
Benefit Analysis ◽  
Programmable Devices ◽  
The Cost

Object The choice of programmable or nonprogrammable shunts for the management of hydrocephalus after aneurysmal subarachnoid hemorrhage (SAH) remains undefined. Variable intracranial pressures make optimal management difficult. Programmable shunts have been shown to reduce problems with drainage, but at 3 times the cost of nonprogrammable shunts. Methods All patients who underwent insertion of a ventriculoperitoneal shunt for hydrocephalus after aneurysmal SAH between 2006 and 2012 were included. Patients were divided into those in whom nonprogrammable shunts and those in whom programmable shunts were inserted. The rates of shunt revisions, the reasons for adjustments of shunt settings in patients with programmable devices, and the effectiveness of the adjustments were analyzed. A cost-benefit analysis was also conducted to determine if the overall cost for programmable shunts was more than for nonprogrammable shunts. Results Ninety-four patients underwent insertion of shunts for hydrocephalus secondary to SAH. In 37 of these patients, nonprogrammable shunts were inserted, whereas in 57 programmable shunts were inserted. Four (7%) of 57 patients with programmable devices underwent shunt revision, whereas 8 (21.6%) of 37 patients with nonprogrammable shunts underwent shunt revision (p = 0.0413), and 4 of these patients had programmable shunts inserted during shunt revision. In 33 of 57 patients with programmable shunts, adjustments were made. The adjustments were for a trial of functional improvement (n = 21), overdrainage (n = 5), underdrainage (n = 6), or overly sunken skull defect (n = 1). Of these 33 patients, 24 showed neurological improvements (p = 0.012). Cost-benefit analysis showed $646.60 savings (US dollars) per patient if programmable shunts were used, because the cost of shunt revision is a lot higher than the cost of the shunt. Conclusions The rate of shunt revision is lower in patients with programmable devices, and these are therefore more cost-effective. In addition, the shunt adjustments made for patients with programmable devices also resulted in better neurological outcomes.

scholarly journals Use of the cost-benefit analysis method in the risk management process of SMEs

2021 ◽  
Vol 129 ◽  
pp. 03019
Author(s):  
Katarina Makka ◽  
Katarina Kampova
Keyword(s):  
Risk Management ◽  
Cost Benefit Analysis ◽  
Main Idea ◽  
Value Added ◽  
Cost Benefit ◽  
Management Process ◽  
Analysis Method ◽  
Benefit Analysis ◽  
Risk Management Process ◽  
The Cost

Research background: Property protection is a worldwide very often used term in the conditions of various sectors. It represents a set of measures that have a preventive effect on the risk of damage to the building. The issue of property protection does not only concern organizations, but also every person who is the owner of a property in which his important interests are located. The protection of buildings is a current topic on a global scale, mainly to ensure the proper functioning through the protection of all important tangible and intangible assets of company. Purpose of the article: The main idea of this article is to approach the issue and create a risk management process, focusing on dealing with risks in the conditions of a particular company, in this step we will use a cost-benefit analysis to help decide on the implementation or rejection of a project to protect the selected object. Methods: Before applying the method of cost-benefit analysis to a specific case of protection of the object of the selected company, it was necessary to characterize the selected company and find out which risks are unacceptable through the creation of a risk management process. The risk management process was created based on structured and unstructured interviews with the company’s employees. Findings & Value added: The proposed procedure for risk management and application of the method of cost-benefit analysis in the process of risk management are applicable in the conditions of any other organization in order to create an effective project for the protection of the object. If necessary, the procedure for using the cost-benefit analysis method can be adjusted to suit the needs and conditions of the problem of a particular organization.

Hostile Takeovers and Anti-takeover Defenses in the Russian Corporate Market

2007 ◽  
pp. 70-84 ◽  
Author(s):  
E. Demidova
Keyword(s):  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Benefit Analysis ◽  
Costs And Benefits ◽  
Hostile Takeovers ◽  
Russian Market ◽  
Takeover Defenses ◽  
The Cost ◽  
European Markets

This article analyzes definitions and the role of hostile takeovers at the Russian and European markets for corporate control. It develops the methodology of assessing the efficiency of anti-takeover defenses adapted to the conditions of the Russian market. The paper uses the cost-benefit analysis, where the costs and benefits of the pre-bid and post-bid defenses are compared.

What's it Worth? Improving Surface Water Quality

1999 ◽  
Vol 40 (10) ◽  
pp. 153-159 ◽  
Author(s):  
D. H. Newsome ◽  
C. D. Stephen
Keyword(s):  
Water Quality ◽  
Surface Water ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Surface Water Quality ◽  
Control Measures ◽  
Benefit Analysis ◽  
The Cost

Many countries are investing in measures to improve surface water quality, but the investment programmes for so doing are increasingly becoming subject to cost-benefit analysis. Whilst the cost of control measures can usually be determined for individual improvement schemes, there are currently no established procedures for valuing the benefits attributable to improved surface water quality. The paper describes a methodology that has been derived that now makes this possible.

Cost-effective upgrading of the Arnsberg WWTP by post denitrification with a moving bed system

2000 ◽  
Vol 41 (9) ◽  
pp. 123-130
Author(s):  
N. Jardin ◽  
L. Rath ◽  
A. Sabin ◽  
F. Schmitt ◽  
D. Thöle ◽  
...  
Keyword(s):  
Carbon Source ◽  
Biological Process ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Cost Effective ◽  
Benefit Analysis ◽  
Moving Bed ◽  
Trickling Filters ◽  
Sludge Hydrolysis ◽  
Effective Integration

On the basis of a cost-benefit analysis it was decided to expand the Arnsberg WWTP by a multistage biological process which allows for cost-effective integration of the existing facilities. Carbon removal will then be accomplished in a high-loaded activated sludge stage for which the existing primary clarifier is to be reconstructed. The existing trickling filters will be used for nitrification during a midterm period and will be replaced later on either by a moving bed system or by new trickling filters. Line 3 of the existing secondary clarifiers will be reconstructed and used for post denitrification in a moving bed system. The carbon needed for denitrification will be provided by means of sludge hydrolysis and the use of an external carbon source.

scholarly journals Economic Analysis of the Use of VCS2000 for Pork Carcass Meat Yield Grading in Korea

Animals ◽  
2021 ◽  
Vol 11 (5) ◽  
pp. 1297
Author(s):  
Juntae Kim ◽  
Hyo-Dong Han ◽  
Wang Yeol Lee ◽  
Collins Wakholi ◽  
Jayoung Lee ◽  
...  
Keyword(s):  
Economic Analysis ◽  
Net Present Value ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Feed Consumption ◽  
Cost Ratio ◽  
Benefit Analysis ◽  
Labor Costs ◽  
Meat Yield ◽  
The Cost

Currently, the pork industry is incorporating in-line automation with the aim of increasing the slaughtered pork carcass throughput while monitoring quality and safety. In Korea, 21 parameters (such as back-fat thickness and carcass weight) are used for quality grading of pork carcasses. Recently, the VCS2000 system—an automatic meat yield grading machine system—was introduced to enhance grading efficiency and therefore increase pork carcass production. The VCS2000 system is able to predict pork carcass yield based on image analysis. This study also conducted an economic analysis of the system using a cost—benefit analysis. The subsection items of the cost-benefit analysis considered were net present value (NPV), internal rate of return (IRR), and benefit/cost ratio (BC ratio), and each method was verified through sensitivity analysis. For our analysis, the benefits were grouped into three categories: the benefits of reducing labor costs, the benefits of improving meat yield production, and the benefits of reducing pig feed consumption through optimization. The cost-benefit analysis of the system resulted in an NPV of approximately 615.6 million Korean won, an IRR of 13.52%, and a B/C ratio of 1.65.

scholarly journals Beyond the Stern Review: Lessons from a risky venture at the limits of the cost–benefit analysis

2009 ◽  
Vol 68 (10) ◽  
pp. 2479-2484 ◽  
Author(s):  
Jean-Charles Hourcade ◽  
Philippe Ambrosi ◽  
Patrice Dumas
Keyword(s):  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Benefit Analysis ◽  
Stern Review ◽  
The Cost
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