10 April 2016

Strategic Management: Risk Assessment (Definitions)

"An evaluation of the risks and possible bad outcomes an organization faces and the likelihood these may occur." (Robert F Smallwood, "Information Governance: Concepts, Strategies, and Best Practices", 2014)

"identifying and aggregating the risks facing the organization." (Manish Agrawal, "Information Security and IT Risk Management", 2014)

"The overall process of risk identification, risk analysis, and risk evaluation." (William Stallings, "Effective Cybersecurity: A Guide to Using Best Practices and Standards", 2018)

"'analyze assets’ value, identify threats and evaluate their vulnerability to those threats" (ITIL)

"the overall process of risk identification, risk analysis and risk evaluation" (ISO Guide 73:2009) 

"The process of identifying risks to organizational operations (including mission, functions, image, reputation), organizational assets, individuals, other organizations, and the Nation, resulting from the operation of an information system. Part of risk management, incorporates threat and vulnerability analyses, and considers mitigations provided by security controls planned or in place. Synonymous with risk analysis. (NIST SP 800-137)

"The process of identifying risks to agency operations (including mission, functions, image, or reputation), agency assets, or individuals by determining the probability of occurrence, the resulting impact, and additional security controls that would mitigate this impact. Part of risk management, synonymous with risk analysis, and incorporates threat and vulnerability analyses." (NIST SP 800-18)

"The process of identifying risks to organizational operations (including mission, functions, image, reputation), organizational assets, individuals, other organizations, and the Nation, resulting from the operation of a system." (NIST SP 800-171)

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