Which organization's standard is the Open FAIR framework aligned with?

The Open FAIR framework is aligned with the ISO/IEC 27005 standard. This standard specifically addresses risk management in the context of information security. It provides guidelines for establishing a risk management process and identifies the key principles that organizations should follow to effectively manage security risks.

By aligning with ISO/IEC 27005, the Open FAIR framework supports a structured approach to risk assessment and management, which is critical for organizations to understand and mitigate information security risks. This alignment helps practitioners by providing a recognized foundation for identifying risk scenarios and assessing their potential impact, thus enhancing the overall effectiveness of the risk management process.

The focus of ISO/IEC 27005 on the risk management lifecycle complements the objectives of the Open FAIR framework, which seeks to quantify risk in financial terms and improve decision-making processes regarding risk mitigation and resource allocation. This connection is important for organizations striving for comprehensive risk management practices that adhere to internationally accepted standards.