Risk assessment is a process under which a number of security risks existing in an organization or premises are analyzed. The results emerging from a risk assessment process is critical for an organization in arriving at a comparative analysis between the estimated cost to secure vulnerability and the potential damage, a breach could inflict upon the organization.
The results emerging from risk assessment process helps the organization in devising its own security strategy to counter each kind of vulnerability.
The information provided as part of a security risk assessment process also helps an organization in introducing all kinds of controls such as deterrent, preventive, corrective, and predictive aimed at risk mitigation.