In this chapter we state that metrics and indicators are key, reusable organizational assets for providing suitable data and information for analyzing, recommending, and ultimately making decisions. In a nutshell, the metric represents the specification of a measurement process that transforms an entity attribute (i.e., the input; such as a security property) into a measure (i.e., the output, which is data), and the (elementary) indicator is the specification of an evaluation process, which has as input a metric’s measure and produces an indicator value (i.e., information). There is abundant literature on ICT security and risk assessment, but very often basic issues such as why, what, how, when, who, and where to measure and evaluate are weakly intertwined and specified. One hypothesis in our research is that, without appropriate recorded metadata of information needs, attributes, metrics, and indicators, it is difficult to ensure that measure and indicator values are repeatable and consistently comparable among an organization’s measurement and evaluation (M&E) projects. We show the added value of metrics and indicators as informational resources for M&E processes, illustrating a couple of them from a system security practical case.
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