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Which Risk Framework to Use: FAIR, FRAP, OCTAVE, SABSA …

Posted by Anton Aylward

What framework would you use to provide for quantitative or qualitative risk analysis at both the micro and macro level?  I'm asking about a true risk assessment framework not merely a checklist.


Yes, this is a bit of a META-Question. But then its Sunday, a day for contemplation.

When does something like these stop being a check-list and become a framework?

COBIT is very clearly a framework, but not for risk analysis and even the section on risk analysis fits in to a business model rather than a technology model.

ISO-27K is arguably more technology (or at least InfoSec) focused that COBIT, but again risk analysis is only part of what its about. ISO-27K calls itself a standard[1] but in reality its a framework.

The message that these two frameworks send about risk analysis is

Context is Everything

(You expected me to say that, didn't you?)

I'm not sure any RA method works at layer 8 or above. We all know that managers can read our reports and recommendations and ignore them. Or perhaps not read them, since being aware of the risk makes them liable.

Ah. Good point.
On LinkedIn there was a thread asking why banks seem to ignore risk analysis .. presumably because their doing so has brought us to the international financial crisis we're in (though I don't think its that simple).

The trouble is that RA is a bit of a 'hypothetical' exercise.

IT AUDIT VS Risk Assessment – 2

Posted by Anton Aylward

We were discussing which should be done first and someone said:

The first has to be risk assessment as it is foundation of information
security. You first need to know where is the risk before putting up
any controls to mitigate that risk. Putting up adhoc controls will not
make the controls effective nor will it protect the organizations
against the risk.

While I understand the intent, I think that is very prejudicial language.

Donn Parker makes a very good case that we have the cultural context - read that sophistication and awareness of the baseline risks - to see that there should be a set of baseline controls. IAM, firewall, AV, backups and so forth. We don't need to leave the assets exposed to threats while we we wait around for a Risk Analysis to tell us that these baseline protective controls are needed.

Risk Analysis

You don't need to know the specific risks any more than you need to know the specific risks to have a lock on the front door of your house and close your windows.

I certainly wouldn't call this approach "ad-hoc".