What role does expert judgment play in Open FAIR risk assessment?

In Open FAIR risk assessment, expert judgment is crucial as it serves to supplement quantitative data with qualitative insights. This is important because while quantitative data can provide hard numbers and statistics, risk assessments often involve complex scenarios where not everything can be captured by data alone. Experts can provide context, identify potential biases, and bring in experience that enriches the understanding of the risks involved.

For instance, they can interpret how certain vulnerabilities might impact an organization in ways that statistics cannot fully express, or they might recognize emerging threats based on their deep understanding of the industry and technology trends. This complementary nature enhances the overall quality of the risk assessment, allowing for a more comprehensive evaluation that accounts for both measurable factors and the subtleties of human behavior and potential organizational responses.

In essence, expert judgment helps bridge the gap between data-driven analysis and the nuanced realities of risk, leading to more informed decision-making regarding risk management.