Chee-Wooi Ten (ECE) is the lead principal investigator on a project that has received a $348,866 research and development grant from the National Science Foundation (NSF). Yeonwoo Rho (Math/ICC) is the Co-PI on the project “CPS:Medium: Collaborative Research: An Actuarial Framework of Cyber Risk Management for Power Grids.” This is a three-year project.
There are two investigators from University of Wisconsin-Milwaukee.
The total for both universities is $700,975.
Abstract
As evidenced by the recent cyberattacks against Ukrainian power grids, attack strategies have advanced and new malware agents will continue to emerge. The current measures to audit the critical cyber assets of the electric power infrastructure do not provide a quantitative guidance that can be used to address security protection improvement. Investing in cybersecurity protection is often limited to compliance enforcement based on reliability standards. Auditors and investors must understand the implications of hypothetical worst case scenarios due to cyberattacks and how they could affect the power grids. This project aims to establish an actuarial framework for strategizing technological improvements of countermeasures against emerging cyberattacks on wide-area power networks.