Which type of risk assessment methodology is based on previous incidents?

The rationale behind the selection of scenario-based risk assessment methodology is that it explicitly utilizes historical data from past incidents to identify potential security risks. This methodology focuses on specific scenarios reflecting real-world events where vulnerabilities have been exploited. By analyzing these previous incidents, organizations can better understand the threats and risks they may face, allowing them to draw insights that inform their risk management strategies.

This approach emphasizes context and practical application, as it considers how specific risks have materialized in the past and helps organizations anticipate and prepare for similar events in the future. It enables a more dynamic and responsive assessment of risks, adapting to the specific circumstances and environments that an organization operates within.

In contrast, qualitative methodologies may rely more on subjective judgment rather than concrete historical data, and quantitative methodologies often focus on numerical assessments of risk rather than narrative contexts provided by past incidents. Asset-based methodologies concentrate primarily on the value and criticality of assets rather than directly using past event data. Each of these methodologies has its strengths, but the scenario-based approach distinctly leverages historical incidents for its risk analysis.