![]() The tool further informs management by comparing and presenting statistical results such as the average annual loss exposure and user-defined percentile thresholds of loss and chance of exceedance of annual loss. Embedded graphs are controlled through intuitive settings, letting analysts and management inspect the relevant results to a lesser or greater level of granularity as required. The tool is designed for international use, with the user able to select local currency units and the order of magnitude (thousands, millions, billions, etc.) relevant to the analysis. ![]() This has a number of practical benefits to a user: The Open FAIR Risk Analysis tool estimates and compares the risk associated with two scenarios in a simple to use, intuitive, and visual way, using Microsoft Excel®. Using both Open FAIR Risk Taxonomy (O-RT) and Risk Analysis (O-RA) standards to guide critical thinking and decomposition of risk questions, it has been designed to allow its user to compare “before and after risk states” of a proposed risk mitigation project, and its outputs can easily be exported to other formats such as Microsoft Word® or PowerPoint® for reporting. It is now available for our members and others to download and evaluate. With a view to creating a tool that helps accelerate the adoption of the Open FAIR standard, the tool provides both experienced and novice risk practitioners with a practical and pragmatic tool to help analyze perceived risk in a consistent and simple to use way, whatever industry they work in. Since late in 2016, The Open Group Security Forum has been collaborating with San Jose State University and Probability Management to develop a Risk Analysis tool that adheres to The Open Group Open FAIR TM Standard.
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