Risk Assessment

What is Risk Assessment?

Risk assessment is the systematic process of identifying potential hazards and analyzing what could happen if a hazard occurs. In a business context, it involves evaluating financial, operational, and security risks to determine how to best manage them.

Why It Matters

• It allows organizations to prioritize their resources on the most significant threats.

• It provides a foundation for creating effective security and compliance strategies.

• It helps prevent costly failures by identifying vulnerabilities before they are exploited.

• It is a mandatory requirement for many regulatory frameworks and insurance policies.