Smart homes from a Risk Management perspective

Abstract

A smart home refers to a regular home with a difference that it contains devices and equipment mutually connected which enables additional support, control and comfort for the residents. Thus the residents are provided with the opportunity to control their own energy efficiency, to have additional safety control over their home and many other benefits. The concept is evolving, especially in the last few years with the overall technological development. Together with large benefits of the smart homes, there are certain risks that come along and they are difficult to anticipate since the concept is new and developing. Hence historical data is not enough or does not exist.

The aim of this thesis is to analyze existing risk assessment methods, that can be used for assessing cyber risks related to the smart homes, and to further analyze them from three perspectives: individual, society and government.