[Term of the Day]: Risk Assessment Framework
Term of the Day
"Risk Assessment Framework"
Definition — What is RAF?
RAF, the acronym of Risk Assessment Framework, is the structured process used to identify potential threats to an organization and to define the strategy for prioritizing and eliminating or minimizing the impact of these risks, as well as the mechanisms to effectively monitor and evaluate this strategy.
A good RAF organizes and presents information in a way that both technical and non-technical personnel can understand. Risk assessments can be broken down into five crucial components that include:
- Risk identification
- Risk measurement and assessment
- Risk mitigation
- Risk reporting and monitoring
- Risk governance
Topic Participants
Dinesh Bhaskaran
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