Discussion Question #1

Risk Analysis Methodologies

Risk assessment is the critical precedent to effective risk mitigation. This process involves a series of steps, depending on the appropriate strategy adopted for the particular risk situation facing an organization. The most important function of the risk assessment process is the organization gaining a clear understanding of its apparent risk. While there are various types of risk assessments, the key issues raised should address the risk of loss of confidentially, integrity, and availability (CIA) of the organization's critical information. Hence, the goal of the risk assessment should be to break up the information obtained and condense it into a body that will make the organization's decision-making process regarding mitigation strategy most effective.

Discussion Questions

In this discussion, answer the following questions:

• What are the primary differences between the various risk assessment approaches in terms of risk management planning?
• What are the steps of risk analysis?
• What are the steps of risk control?