CSO Magazine Discusses the Art of Uncertainty

Interview with technology economist and managing principal Frank J. Bernhard reveals a new approach to calculating the risk of digital security

Davis, CA - December 09, 2002 - In the December issue of CSO magazine, managing editor Elaine M. Cummings speaks with technology economist Frank J. Bernhard to learn what in the world an economist thinks of the current state of security, how CSOs should be thinking about the economics of risk, and, most important, how they should be communicating it. The feature editorial presentation covers a variety of topics regarding the business interest contingency of security and how today's corporate enterprise should view the future of risk at large.

"Risk is certainly measurable. Since risk is a factor of probability and it has an outcome, you can measure it and model it and start to understand its core attributes with some level of specificity," said Frank J. Bernhard, managing principal of the supply chain and telecommunications portfolio at OMNI Consulting Group. Referring to the overwhelming desire to account for and measure the economic impact of risk upon information assets and human capital, Bernhard translates the latest research and thinking into simple terms that every individual can understand.

The interview unveils a probe into the optimized risk position of companies and how to begin the initial steps of creating an Economic Risk Assessment (ERA) scorecard. Cummings focuses on the practical ways and methods for CSOs and security personnel to inventory their current environment with the goal in sight of determining an appropriate spending level. With Homeland Security set as the top agenda for many of the Fortune 1000 organizations this year, budgetary considerations are taking place at the current moment to reflect the safety and surety of assets requiring protection. OMNI Consulting Group has supplied its economic data and predictive modeling services to many of today's leading technology companies seeking to understand the bottom-line effects of security investment.

Knowing how much to invest or discrete areas to invest dollar resources can be a perplexing topic. On the subject of risk measurement, Bernhard says, "There's no such thing as zero in risk. It's all about how much risk you're willing to take on and actually absorb." Using a repository of empirical data and the supplemental research of its practitioner staff, OMNI Consulting Group assists organizations in understanding the real value behind security technologies and the derivative of economic benefits behind risk mitigation.

About OMNI Consulting Group LLP

Founded in 1989, OMNI Consulting Group LLP is the premiere source for empirical knowledge behind today's fast moving technology marketplace. With an impressive global network of economists and research practitioners, the firm serves many of the world's largest technology organizations and offers an unbiased approach of quantitative standards to address client-focused initiatives. OMNI Consulting Group fosters the understanding of market dynamics through an application of econometric solutions in a wide array of advisory and market research functions. Practice units within the firm concentrate on merger and acquisition support, technology audit and assurance, and intellectual asset valuation.

No longer is market blindness an excuse, but rather an opportunity to witness the next horizon. Discover the insight of technology economics by visiting us on the Internet: http://www.omniconsultinggroup.com