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An organization’s sensitive information is under constant threat. Identifying those security risks is critical to protecting that information. But some risks are bigger than others. Some mitigation options are more expensive than others. How do you make the right decision? Adopting a formal risk assessment process gives you the information you need to set priorities.

There are many ways to perform a risk assessment, each with its own benefits and drawbacks. We will help you find which of these six risk assessment methodologies works best for your organization.

What is Risk Assessment?

Risk assessment is the way organizations decide what to do in the face of today’s complex security landscape. Threats and vulnerabilities are everywhere. They could come from an external actor or a careless user. They may even be built into the network infrastructure.

Decision-makers need to understand the urgency of the organization’s risks as well as how much mitigation efforts will cost. Risk assessments help set these priorities. They evaluate the potential impact and probability of each risk. Decision-makers can then evaluate which mitigation efforts to prioritize within the context of the organization’s strategy, budget, and timelines.

images from Hacker News