College Park, Md. – January 21, 2009 – The University of Maryland’s Robert H. Smith School of Business invites innovative solutions to one of the 21st century’s most pressing concerns – how to allocate scarce resources to protect the massive amount of personal and sensitive data available on computer networks and online. The selection committee is now accepting essay submissions for the Gordon Prize in Managing Cybersecurity Resources. The best essay on the topic will be awarded $1,000 in the newly established competition, named for pioneering cybersecurity expert Lawrence Gordon, Smith’s Ernst & Young Alumni Professor of Managerial Accounting and Information Assurance.
The Gordon Prize in Managing Cybersecurity Resources encourages practitioners and theoreticians alike to approach the problem of allocating scarce resources to cybersecurity. Essays will be evaluated on their ability to provide and describe a clear, innovative solution to the problem associated with managing cybersecurity resources.
“Cybersecurity is critical in today’s global economy that is so interconnected by technology,” said Gordon. “Individuals, organizations and governments must sure up vulnerabilities and have the ability to fight off cyber crime, fraud and even terrorists. Cyber attacks can result in direct financial loss via theft or embezzlement, data breaches, business and government disruptions, poor customer relations, legal liabilities and in some cases infrastructure failure.”
The deadline for contest entry is Aug. 1, 2009. The winner will be announced Oct. 15, 2009. Submission guidelines for the annual prize – which is open to students, faculty and information security professionals in both the public and private sectors – can be found online.
Gordon is committed to raising awareness of the issue of cybersecurity and its importance to business leaders and has spent the past decade studying the economic issues related to cybersecurity. With frequent collaborator Martin P. Loeb, Deloitte and Touche LLP Faculty Fellow, Gordon started exploring the idea of applying economic concepts such as cost-benefit analysis to cybersecurity issues in 1998. The Gordon-Loeb model presents an economic framework that helps managers evaluate the right amount of resources to expend on information security. In 2003, Gordon instituted the Smith School’s annual Cybersecurity Forum, a conference that brings together academic and industry experts.
Gordon is the co-author (with Loeb) of the book “Managing Cybersecurity Resources: A Cost-Benefit Analysis.” In addition, he is editor-in-chief of the Journal of Accounting and Public Policy, and serves on the editorial boards of several other journals. An award-winning teacher, he is also a frequent speaker at various universities and professional meetings and has testified as an expert before the U.S. House of Representatives Subcommittee on Homeland Security.
About the University of Maryland’s Robert H. Smith School of Business
The Robert H. Smith School of Business is an internationally recognized leader in management education and research. One of 13 colleges and schools at the University of Maryland, College Park, the Smith School offers undergraduate, full-time and part-time MBA, executive MBA, MS in business, PhD and executive education programs, as well as outreach services to the corporate community. The school offers its degree, custom and certification programs in learning locations on three continents — North America, Europe and Asia.