Abstract: There may be provided a method for model-based risk assessment of a computerized network, the method may include obtaining a model of the computerized network, the model comprises risk assessments building blocks that represent (a) risk related dependencies between members of sets of assets of the computerized network, and (b) probabilities of occurrence of the risk related dependencies; and simulating, for at least some of the assets of the computerized network, and based on at least a portion of the model, one or more attacks to provide one or more model-based risk assessment results.