To make OWASP more visible to Chief Information Security Officers (CISO)s I put together an initial draft of an application security guide that can be downloaded from here. I believe the time is mature for an organization like OWASP to reach up CISOs directly with a targeted guide. The first part of this OWASP guide, need to document the business cases and risk-cost criteria for budgeting application security processes, tools/technologies and training. This is not an easy task because of the current economic recession requiring organizations to operate with tight budgets for information technology including application security while confronted with the need to mitigate the risk of increased number of attacks and security incidents. Therefore, CISOs today need to be able to articulate the business cases for application security and made the application security budget justifiable according to both risk mitigation and cost efficiency criteria. From risk mitigation perspective, it means to be able factor how much security incidents cost to the organization specifically when such incidents are caused by exploiting application vulnerabilities. Security incidents caused by malware and hacking threat agents that exploit application vulnerabilities such as SQL injection for example could cost businesses lots of money. For an business critical web application such as online banking for example that means several million of dollars of potential losses. By adopting criteria such as quantitative risk analysis, it is possible to calculate how much money should be spent in application security measures and justify this by comparing it with the cost of potential losses. When these losses are potential the cost need to be estimated, when these losses are the consequence of a security incident, this can be calculated based upon real operational costs such as the ones to recover from the security incident. From the application security costs efficiency perspective, criteria such as return of investment can help CISO in deciding how to spend the application security budget effectively such as in which SDLC activity (e.g. pen tests, source code analysis, threat modeling). In order to validate the assumptions of the guide, it would also required to gather CISO feedback such as in a form of a survey to assess risk mitigation from exploit of vulnerabilities by hacking and malware as well as other needs such as compliance so that this application security guide can be documented.