(ISC)2 Certified in Cybersecurity Practice Exam

The overarching process of identifying, evaluating, and controlling threats is referred to as risk management. This crucial practice encompasses several stages—beginning with the identification of potential risks, followed by assessing their likelihood and potential impact, and then developing strategies to manage those risks effectively.

Risk management is essential for organizations because it not only helps to protect their assets and data but also ensures compliance with various regulations and standards. By implementing a structured approach to risk management, organizations can prioritize their responses based on the most significant threats, allowing them to allocate resources efficiently and maintain operational continuity.

While risk assessment is a component of risk management, focusing primarily on the identification and evaluation of risks, the broader term of risk management includes the subsequent steps of controlling and mitigating those risks. Other choices like risk mitigation and risk acceptance are specific strategies within the overall risk management framework—risk mitigation refers to the efforts taken to reduce or eliminate risks, while risk acceptance involves recognizing risks that are deemed acceptable without further action. Hence, risk management encompasses all these elements, making it the central process in this context.