In the FAIR model, subject-matter experts play a crucial role in delivering quantitative estimates based on their expertise. Their input is invaluable because they possess in-depth knowledge of specific risk factors, vulnerabilities, and contextual elements relevant to the organization’s operations. By translating their expertise into numerical values, they help to create a more accurate and structured representation of risk.
This quantitative insight enhances the FAIR analysis, allowing for a clearer understanding of risk exposures, potential impacts, and the likelihood of various risk scenarios. The involvement of these experts elevates the analysis above mere subjective opinions and facilitates a more data-driven approach to risk assessment.
While potential threats, risks, and monetary values are important aspects of the FAIR model, the primary function of subject-matter experts within this context is their ability to provide precise quantitative estimates that form the backbone of the model's statistical evaluation of risk.