6 Steps in 60 Days to FAIR Quantitative Risk Management

April 25, 2022  Samuel Carpenter

“Alright, I’m ready to get started with RiskLens, what happens now?”

Project Meeting - FAIR Quantitative Risk Management with RiskLensWelcome aboard! In six steps we’re going to set up your FAIR™ quantitative risk program and show its value to your organization. All in about 60 days.  

Step 1 - FAIR and RiskLens Platform Training (1-2 Weeks)

We’ll start with a foundation of FAIR (Factor Analysis of Information Risk) and RiskLens Platform Training. You’ll work with our FAIR experts to learn the FAIR model and how to conduct quantitative risk analyses.  At the same time, we’ll teach you and your team to use the RiskLens Platform and scale it across your organization. This is typically a one-to-two-week process.

Samuel Carpenter - Account Executive - RiskLensSamuel Carpenter is an Enterprise Account Executive for RiskLens.



Step 2 - Platform Onboarding (1 Week)

After we have the basics of FAIR and RiskLens, we’ll start configuring your platform instance with industry data that you’ll use for your risk analysis from this point onward. This takes about a week.


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Step 3 - Top Risk Assessment (1-2 Weeks)

After you’ve been trained and your instance of RiskLens has been configured with data for your industry, it’s time to conduct your first analysis on your top risk scenarios. Our team will both teach you and work alongside you as we identify the most important risk scenarios that will impact your strategy moving forward. This takes between a week and two weeks.

Milestone: A month after your start date you’ll already know your top risks in financial terms.

RiskLens Platform - Rapid Risk Assessment - Top Risks

Step 4 - Cost-Benefit Assessment (1 Week)

After we’ve established your top risks we’ll tackle what to do about them with a cost-benefit assessment. This process takes about another week as we look at 3-5 different cybersecurity initiatives and determine their impact in financial terms.

Step 5 - Executive Reporting (1 Week)

As we arrive at week seven, we will produce a report for your business leaders to highlight top risks and present a range of different initiatives to mitigate or otherwise tackle those scenarios. These stakeholders will be empowered (by the financial perspective you provide) to make informed decisions on these cyber risks to accept, mitigate, or otherwise act upon.

Congratulations! In two months or less you will have:

  • Trained on FAIR and the RiskLens Platform
  • Developed custom data libraries
  • Identified top risk scenarios
  • Analyzed multiple cybersecurity initiatives, and
  • Presented your findings to leadership.

From this point on, our team will help refine your existing processes, provide other support when needed, and help you achieve success with your new FAIR-enabled, RiskLens-driven quantitative cyber risk program.