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In earlier work we presented a metric that quantifies system security in terms of the average loss per unit of time incurred by a stakeholder of the system as a result of security threats. The computational infrastructure of this metric involves system stakeholders, security requirements, system components and security threats. To compute this metric, we estimate the stakes that each stakeholder associates with each security requirement, as well as stochastic matrices that represent the probability of a threat to cause a component failure and the probability of a component failure to cause a security requirement violation. We apply this model to estimate the security of the Advanced Metering Infrastructure (AMI), by leveraging the recently established NISTIR 7628 guidelines for smart grid security and IEC 63351, Part 9 to identify the life cycle for cryptographic key management, resulting in a vector that assigns to each stakeholder an estimate of their average loss in terms of dollars per day of system operation.

Failure impact analysis of key management in AMI using cybernomic situational assessment (CSA)