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Enterprises intangible Risks Management via Economic models based on simulatioN of modErn cyber-aTtacks

Enterprises intangible Risks Management via Economic models based on simulatioN of modErn cyber-aTtacks

Objective

IT security and risk management often ignore or underestimate the human factor (psychological, behavioural, societal, organisational and economic aspects) in the identification of cyber-risks, their quantitative economic impact and the costs of countermeasures. Cyber-attacks can harm intangible assets like reputation, IPR, expertise, and know-how. And there is severe imbalance between the efficiency of attacks and inadequate defences, due in part to the lack of quantitative information for decision makers to prioritise security investments.
To foster a culture of risk management by an individual organisation or a complete sector, HERMENEUT answers: What is the real fallout of a data compromise and the long-run consequences on associated assets? What are the losses for intangible assets? Do other type of attacks (beyond data breach) severely impact intangible and tangible assets?
HERMENEUT assesses vulnerabilities of organisations and corresponding tangible and intangible assets at risk, taking into account the business plans of the attacker, the commoditisation level of the target organisations, the exposure of the target and including human factors as well as estimating the likelihood that a potential cyber-attack exploits identified vulnerabilities. HERMENEUT’s cyber-security cost-benefit approach combines integrated assessment of vulnerabilities and their likelihoods with an innovative macro- and micro-economic model for intangible costs, delivering a quantitative estimation of the risks for an organisation or a business sector and investment guidelines for mitigation measures. 11 partners from 6 countries deliver an innovative methodology and advanced macro- and micro-economic models and make it available to the European research community. HERMENEUT implements its innovations in a decision support tool, tested with 2 users in healthcare and an IPR-intensive industry.
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Coordinator

ENGINEERING - INGEGNERIA INFORMATICA SPA

Address

Piazzale Dell'Agricoltura 24
00144 Roma

Italy

Activity type

Private for-profit entities (excluding Higher or Secondary Education Establishments)

EU Contribution

€ 290 108,75

Participants (12)

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CEFRIEL SOCIETA CONSORTILE A RESPONSABILITA LIMITATA

Italy

EU Contribution

€ 224 065

PROPRS Ltd.

United Kingdom

EU Contribution

€ 76 403,75

DEEP BLUE SRL

Italy

EU Contribution

€ 296 987,50

PAGNANELLI RISK SOLUTIONS LIMITED

United Kingdom

EU Contribution

€ 6 437,50

DEDALUS ITALIA S.P.A.

Italy

EU Contribution

€ 138 875

NOEMALIFE SPA

Italy

DIGITAL CATAPULT

United Kingdom

EU Contribution

€ 167 325

BRANDENBURGISCHES INSTITUT FUR GESELLSCHAFT UND SICHERHEIT GGMBH

Germany

EU Contribution

€ 176 375

UNIVERSITE PARIS-SUD

France

EU Contribution

€ 293 831,25

EUROPEAN ORGANISATION FOR SECURITY SCRL

Belgium

EU Contribution

€ 138 812,50

ELTA SYSTEMS LTD

Israel

EU Contribution

€ 140 000

ZENABYTE SRL

Italy

EU Contribution

€ 58 471,25

Project information

Grant agreement ID: 740322

Status

Ongoing project

  • Start date

    1 May 2017

  • End date

    30 June 2019

Funded under:

H2020-EU.3.7.4.

  • Overall budget:

    € 2 007 692,50

  • EU contribution

    € 2 007 692,50

Coordinated by:

ENGINEERING - INGEGNERIA INFORMATICA SPA

Italy