(ISC)2 Certified in Cybersecurity Practice Exam

What is the process called that identifies and evaluates risks?

1. Risk Analysis

2. Risk Mitigation

3. Risk Assessment

4. Risk Management

The correct answer is: Risk Assessment

The process that identifies and evaluates risks is known as risk assessment. This phase is crucial in the broader context of managing risks because it involves systematically examining the various risks that could potentially impact an organization or project. During risk assessment, organizations identify potential threats and vulnerabilities, analyze the likelihood of these risks occurring, and evaluate the potential impact on their operations or objectives. This foundational step allows for the prioritization of risks based on their severity and helps in the development of strategies to address them. In the context of the other options: - While risk analysis focuses on examining the specific attributes of identified risks and their potential consequences, it does not encompass the broader scope of identifying the risks in the first place. - Risk mitigation refers to the strategies and measures taken to minimize risks that have already been evaluated and prioritized but does not include the initial identification and assessment of those risks. - Risk management is an overarching process that includes risk assessment, risk mitigation, and monitoring and reviewing risks continuously, but the specific process of identifying and evaluating risks is distinctly defined as risk assessment. Thus, the correct identification and evaluation of risks is encapsulated clearly by the term risk assessment.