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Fully updated for We value your feedback! Do you have a comment or correction concerning this page? Let us know in a single click. We read every comment! Toggle navigation Labor Posters. Download This Poster. Print This Poster. An Enterprise Scalable Risk Model FAIR's risk model components are specifically designed to support risk quantification: A standard taxonomy and ontology for information and operational risk.
A framework for establishing data collection criteria. Measurement scales for risk factors. A modeling construct for analyzing complex risk scenarios. Integration into computational engines such as RiskLens for calculating risk. The Open Group is a global consortium that enables the achievement of business objectives through IT standards. Standardization of Open FAIR was achieved following a most rigorous review and comparison with other risk methodologies, and development using an open, consensus standards process.
They all prescribe the need to quantify risk, but for the most part, they leave it up to the practitioners to figure it out. Some are silent on the subject of how to compute risk, while others are open in the allowance of 3rd party methods.
Frameworks such as NIST attempt to measure risk, but fall short as they rely on qualitative scales and flawed definitions. FAIR TM helps fill that gap by providing a proven and standard risk quantification methodology that can be leveraged on top of those frameworks.
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