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October 2013 Vol. 15 / No. 8

A call to action for technology risk management professionals

Advanced persistent threats delivering zero days via watering holes have become a reality. Attackers targeting SCADA systems, heart monitors, automobiles and other devices are waiting in the wings. Calls for government to address cybersecurity have reached a fevered pitch. And the breaches continue. As technology invades our lives and Skynet continues to develop with the Internet of Things, the potential downsides are becoming apparent in the "technology risk management" field. How can we be rational and reasonable in our world of downsides? After hearing, once again, that he faced a decision involving tradeoffs, President Truman once famously exclaimed, "Find me a one-armed economist!" in the hope that he would eliminate "the other hand." In reality, even an economist named Bob (get it?) will discuss alternatives and options, because that's what economics is about. Opportunity costs involve all the things we could have done but didn't, once the alternative choice was made.   Tradeoffs and scarce resources In the technology risk...

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