Taxonomy of Cyber Risk Mitigation Cost Benefit Analysis Methods for Energy Infrastructure

Research output: Chapter in Book/Report/Conference proceedingConference proceedings published in a bookpeer-review

9 Downloads (Pure)

Abstract

Cybersecurity is a critical aspect for the energy industry to defend against cyber attacks. However, justifying the costs of cybersecurity measures is essential. A cost-benefit analysis (CBA) is commonly used to support decision-making for risk mitigation, helping to identify strategies that optimally balance mitigation costs and risk reduction. In this survey, we analyse existing approaches and provide a taxonomic overview of methods for cyber risk mitigation cost-benefit analysis, focusing on key aspects that determine their applicability to energy systems. The survey includes both general and contextual works, employing various methodologies for CBA, whether analytical or criteria-based. We conclude with an analysis of future directions based on recent developments in these methods. As an emerging area, this taxonomy could serve as a foundation that can be expanded with more data from other publications in the field, offering an opportunity to advance knowledge in energy systems.

Original languageEnglish
Title of host publicationProceedings of the 2024 IEEE International Conference on Cyber Security and Resilience, CSR 2024
Pages771-776
Number of pages6
ISBN (Electronic)9798350375367
DOIs
Publication statusPublished - 9 Dec 2024

Publication series

NameProceedings of the 2024 IEEE International Conference on Cyber Security and Resilience, CSR 2024

ASJC Scopus subject areas

  • Artificial Intelligence
  • Computer Networks and Communications
  • Safety, Risk, Reliability and Quality

Keywords

  • cost benefit analysis
  • cyber
  • energy
  • mitigation
  • risk
  • survey
  • taxonomy

Fingerprint

Dive into the research topics of 'Taxonomy of Cyber Risk Mitigation Cost Benefit Analysis Methods for Energy Infrastructure'. Together they form a unique fingerprint.

Cite this