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Hi everyone, welcome back. Cyber security is an important area of focus. There is a whole lot of data that is being stored and transmitted digitally. This includes sensitive data that could potentially cause damage to someone or even a whole company. We will go over risk management along with some basic risk management concepts and processes. With this introduction out of the way, let’s get into it.
Risk
What is a risk? Risk is a probability that an event may occur. Typically an event that will cause loss or damage for a party. Having high risk means that there is greater potential for an event that will result in damages and financial loss. So therefore, risk management strategies are adopted to reduce risk. In the cyber security field, new technology is constantly being released and already existing technology is constantly being updated. This allows the potential for new risks and causes risk management to become an evolving process. It is nearly impossible to completely eliminate risk, in the cyber security field, so the next best thing is the reduce the risk that one may be exposed to.
Risk Assessment
In order to assess the risk that a company may be exposed to, identifying assets, threats, and potential vulnerabilities will need to be required. Let’s see what defines each of…
