Most of the time when we develop a software flow to implement a business logic often we are giving some decision that effecting safe and comfortable usage of the system and maybe success of the business.
For example to validate a member that is trying to update important data on the system (like credit card data etc.) we may decide to ask confirmation by SMS with OTP. So we may send 4 digit code and ask for confirmation. But first of all how can we sure that OTP over SMS is secure enough for our process? How long OTP we should send, 4 digit enough? Is it enough secure to use only numbers instead of letters too? We are of course always trying to make it easy for members so it will be comfortable to them and not to decide stop using our systems. Otherwise we may do it as hard as we can so it would be more secure.
Of course this is not a specific question and answer would not be clear on this but I am asking this question to understand if there is methodology or statistical method to decide business process or software flow statistically secure? Because mostly we are deciding according to ours and some of the colleagues opinion nothing else which is not measurable. There must be a way to handle such questions?
So any idea?