Internet voting has been very topical and it has been used in elections in North America, Europe, and elsewhere. The advantages of its use include increased participation from infirmed, elderly, and itinerant voters and quicker vote tabulation. Its disadvantages stem from the inherent lack of control and transparency from allowing votes from homes and other locations rather than from controlled polling stations, which may lead to voter fraud or inadvertent spoilage of "virtual" ballots. Much of this balancing-off of pros and cons is done on a qualitative basis with little attempt at quantifying the risks using an established methodology. The application of a well-known risk analysis method OCTAVE has merely been proposed. In this paper, we extend this general proposal and describe key constructs for applying OCTAVE to perform risk analysis for voting alternatives in general. Governments or other institutions can then use this methodology to perform quantitative risk analysis to compare different voting alternatives including Internet voting, as well as poll, mail-in, and telephone voting.
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