Overview
A Risk Assessment is a systematic process of evaluating potential risks that may be involved in a projected activity or undertaking. In cybersecurity, it involves identifying assets, threats to those assets, and the vulnerabilities that those threats could exploit.
The Assessment Process
- Identify Assets: What needs to be protected (data, hardware, people)?
- Identify Threats: What could go wrong (malware, natural disasters, insider threats)?
- Identify Vulnerabilities: What weaknesses exist (unpatched software, lack of training)?
- Analyze Impact: What is the consequence if a threat exploits a vulnerability?
- Determine Likelihood: How likely is it that the event will occur?
Risk Rating
Risk is often calculated as Likelihood x Impact. This helps organizations prioritize which risks to address first.