Cost assessment methodology overview Sample Clauses

Cost assessment methodology overview. The Life Cycle Costs of a security solution cover all the costs that are made by a party that plans to invest in a security solution (‘the investor’) to acquire, install, use, maintain and de- commission the security solution during its life cycle. Analysing the life cycle costs provides insight into those factors and elements that together determine the costs to the investor. The investor can then weight the costs against the expected benefits of the security solution, in this case, the expected reduction of risk. The methodology that was used for SEGRID consists of various steps (Figure 2). These steps are subsequently described in the paragraphs that follow. By following these steps, a systematic and replicable cost assessment can be performed. Planning Definition Analysis preparation Analysis Reporting Planning Definition Analysis preparation Analysis Reporting Figure 2: Steps in SEGRID Cost Assessment