What is "risk assessment" in cyber security?

Risk assessment in cyber security is fundamentally about the process of identifying, analyzing, and evaluating potential risks that could threaten an organization's information systems and data. This process begins with identifying where vulnerabilities exist within the infrastructure and determining what assets might be at risk. It involves analyzing the likelihood of different types of threats and assessing their potential impact on the organization.

Through risk assessment, organizations gain insights into which risks pose the greatest threat to their operations, enabling them to prioritize their resources and responses effectively. This assessment not only includes analyzing how potential risks could affect the organization but also evaluates current security measures in place and their effectiveness against those risks. Ultimately, the goal of conducting a risk assessment is to develop a foundation for informed decision-making regarding risk management strategies, ensuring that appropriate measures are implemented to mitigate identified risks.

The other choices do not encompass the holistic approach that risk assessment entails. While fixing security vulnerabilities is critical, it comes after risks have been identified and assessed. Compliance regulations set standards for organizations but do not involve the analysis of specific risks. An immediate reaction to a security incident pertains more to incident response rather than the proactive evaluation provided by a risk assessment.