(ISC)2 Certified in Cybersecurity Practice Exam

What is the primary process for identifying and analyzing risks to organizational operations?

1. Risk Treatment

2. Risk Assessment

3. Risk Transference

4. Risk Mitigation

The correct answer is: Risk Assessment

The primary process for identifying and analyzing risks to organizational operations is risk assessment. This process involves systematically identifying potential hazards that could negatively impact the organization and evaluating the likelihood and potential impact of these risks. By gathering relevant data, assessing vulnerabilities, and analyzing potential threats, an organization can gain a clearer understanding of its risk landscape. Risk assessment is crucial as it lays the foundation for informed decision-making regarding how to manage those risks. It allows organizations to prioritize which risks need immediate attention based on their severity and probability while also informing the strategies they might adopt for risk treatment, mitigation, or transference. Through effective risk assessment, organizations can proactively address vulnerabilities, enhance their resilience, and better safeguard their resources and operations. The other options involve different aspects of risk management. Risk treatment refers to the process of deciding and implementing measures to mitigate or manage identified risks, while risk transference involves shifting the risk to another party, typically through insurance or outsourcing. Risk mitigation relates to the strategies put in place to reduce the impact or likelihood of risks but relies on the prior identification and analysis that occur during the risk assessment phase. Thus, risk assessment serves as the critical starting point for effective risk management.