Measuring cloud security risk by Mean Failure Cost

The Mean Failure Cost (MFC) is a function that measures, for a given system and a given stakeholder, the mean of the random variable that represents the loss incurred by the stakeholder as a result of possible system failure. When the cause of system failure being considered is security breaches, the MFC can be used to quantify specifically the loss that results from violations of security requirements, such as confidentiality, integrity, availability, etc. In this paper we consider the application of the Mean Failure Cost model to reference cloud architecture.