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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.

What drives the RA? Need or Fashion?

Posted by Anton Aylward

A colleague in InfoSec made the following observation:

My point - RA is a nice to have, but it is superfluous. It looks nice
but does NOTHING without the bases being covered. what we need
is a baseline that everyone accepts as necessary (call it the house
odds if you like...)

Most of us in the profession have met the case where a Risk Analysis would be nice to have but is superfluous because the baseline controls that were needed were obvious and 'generally accepted', which makes me wonder why any of us support the fallacy or RA.

It gets back to the thing about the Hollywood effect that is Pen Testing. Quite apart from the many downsides it has from a business POV it is non-logical in the same way that RA is non-logical.