Risk management encompasses a comprehensive approach to identifying, assessing, and mitigating risks that could impact an organization's assets and operations. It consists of three key components:
Risk Management: This macro-level process involves prioritizing risks and developing strategies to mitigate them, ensuring alignment with organizational objectives.
Risk Assessment: A meso-level process that identifies and categorizes risks, evaluates their potential impacts, and forms the basis for mitigation strategies.
It includes steps like identifying critical assets and mapping cybersecurity risks.
Risk Analysis: A micro-level evaluation that quantifies risks, measuring their likelihood and potential impact to prioritize them effectively.
Together, these processes help organizations navigate uncertainties and enhance decision-making.
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