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Far too often application security decisions are made in an ad hoc manner and based on little or no data. This leads to an inefficient allocation of scarce resources. To move beyond fear, uncertainty and doubt, organizations must adopt an approach to application risk management based on a structured process and quantitative data. This presentation outlines such an approach for organizations to enumerate all the applications in their portfolio. It then goes through background information to collect for each application to support further decision-making. In addition, the presentation lays out an application risk-ranking framework allowing security analysts to quantitatively categorize their application assets and then plan for assessment activities based on available budgets. This provides the knowledge and tools required for them to use the approach on the applications they are responsible for in their organization. Please email dan _at_ denimgroup dot com for a template spreadsheet and a how-to guide.