2023 IT Examiner School

Risk Management Lifecycle Overview • Risk Appetite

• Risk Identification • Risk Assessment • Risk Response • Risk Monitoring

Risk Terms Level Set

• Asset : Anything of value to the organization • Vulnerability : A weakness, abscess of a safeguard (control). • Threat : Something that could pose loss to all or part of an asset. • Threat Agent : What carries out the attack. • Exploit : An instance of compromise • Risk : The probability of a threat materializing.

• Controls : Physical, Administrative, and Technical protections. • Safeguard – Deterrents or Preventives. • Countermeasures- Detective or Correctives. • Inherent Risk : The risk before any control is implemented. • Residual Risk : Leftover risk after applying a control. • Secondary Risk : When one risk response triggers another risk event.