Definition:
Risk assessment is the process of identifying, analyzing, and evaluating potential risks to an organization's assets, operations, and information. It helps prioritize security measures based on the likelihood and impact of potential threats.
Use Cases:
- Used by organizations to evaluate the risks associated with new technologies or systems.
- Employed in cybersecurity audits to identify and mitigate potential vulnerabilities.
Related Terms:
Questions and Answers:
- What are the steps in a risk assessment process?
The steps typically include identifying assets, assessing potential threats and vulnerabilities, evaluating the impact, and determining the likelihood of each risk.
- How is risk assessment used in cybersecurity?
Risk assessment helps organizations prioritize which vulnerabilities to address based on the severity of potential impacts and the likelihood of occurrence.
- Why is risk assessment important for compliance?
Many regulatory frameworks, such as GDPR and HIPAA, require organizations to conduct regular risk assessments to ensure they have adequate security measures in place.