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What is Factor Analysis of Information Risk mean?
Factor Analysis of Information Risk (FAIR) is a taxonomy of the factors that contribute to risk and how they affect each other. It is primarily concerned with establishing accurate probabilities for the frequency and magnitude of data loss events. It is not a methodology for performing an enterprise (or individual) risk assessment.
FAIR is also a risk management framework developed by Jack A. Jones, and it can help organizations understand, analyze, and measure information risk according to Whitman & Mattord (2013).
A number of methodologies deal with risk management in an IT environment or IT risk, related to information security management systems and standards like ISO/IEC 27000-series.
FAIR seeks to prof them.
Although the basic taxonomy and methods have been made available for non-commercial use under a creative commons license, FAIR itself is proprietary. Using FAIR to analyze someone else's risk for commercial gain (e.g. through consulting or as part of a software application) requires a license from RMI.
referencePosted on 24 Dec 2024, this text provides information on Miscellaneous in Academic & Science related to Academic & Science. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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