What is the primary aim of a "Risk Assessment" in the FAIR methodology?

The primary aim of a "Risk Assessment" in the FAIR methodology is to systematically evaluate the potential risks and their impact on the organization. This process involves identifying, analyzing, and quantifying risks in a structured manner, which allows organizations to understand the likelihood and potential consequences of various risk scenarios.

FAIR focuses on providing a quantitative approach to risk management, enabling organizations to make informed decisions about which risks to mitigate, transfer, or accept based on their potential impact. By thoroughly assessing risks, organizations can prioritize their resources and efforts effectively, ensuring that the most significant threats are addressed appropriately.

While allocating resources effectively, developing new security policies, and influencing stakeholders are important aspects of risk management, they are not the primary focus of the risk assessment phase in the FAIR framework. The core objective remains a clear and structured evaluation of risks to inform better decision-making and enhance the organization's overall risk posture.