Governance & ComplianceHigh
Risk Assessment
The process of identifying, analyzing, and evaluating risks to an organization's assets
Content
What is Risk Assessment?
A Risk Assessment helps organizations understand potential security threats and their impact. It informs decision-making on where to invest in controls, tools, or training to reduce risk exposure.
Steps in the Process
- Identify assets
- Identify threats and vulnerabilities
- Assess likelihood and impact
- Prioritize risks
- Develop a response plan
Best Practices
- Use standardized frameworks (NIST, ISO)
- Involve stakeholders across departments
- Reassess regularly, especially after major changes
- Tie risks to business objectives
Quick Facts
Severity Level
9/10
Main Goal
Measure and prioritize risks
Key Inputs
Assets, threats, vulnerabilities
Risk Formula
Risk = Likelihood × Impact
Output
Risk register with mitigation plan
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