What is the primary output of the Open FAIR Risk Analysis process?

The primary output of the Open FAIR Risk Analysis process is a risk model that quantifies the potential impact of identified risks. This model is crucial because it provides a structured and numerical approach to understanding the potential financial and operational consequences of specific risks to an organization. It utilizes defined methodologies to assess and express risks in terms of financial metrics, enabling stakeholders to make better-informed decisions about risk management.

By quantifying risks, the Open FAIR approach allows organizations to prioritize their risk responses effectively. This quantitative analysis distinguishes it from other outputs that may focus on compliance reporting or audits, which do not provide the same level of detail in terms of risk impact evaluation. The risk model, therefore, serves as a foundational element for informed, data-driven risk management strategies that align with business objectives and risk tolerances.