Risk Assessment

What Is Risk Assessment?

Short definition:
Risk assessment is the process of identifying and evaluating potential risks.

What this actually means for a business:
It helps you understand what threats exist, how likely they are, and how much impact they could have.

Common misconception:
Some think it’s overly technical. It’s actually a practical way to prioritize what needs attention.

When this matters:
If you’re planning security improvements, compliance efforts, or IT investments.

Related terms: Risk, Risk Management, Audit