What is Risk:
Risk = Threat x Vulnerability x Asset
The enterprise risk assessment and enterprise risk management processes comprise the heart of the information security framework. These are the processes that establish the rules and guidelines of the security policy while transforming the objectives of an information security framework into specific plans for the implementation of key controls and mechanisms that minimize threats and vulnerabilities. Each part of the technology infrastructure should be assessed for its risk profile. From that assessment, a determination should be made to effectively and efficiently allocate the organization’s time and money toward achieving the most appropriate and best employed overall security policies. The process of performing such a risk assessment can be quite complex and should take into account secondary and other effects of action (or inaction) when deciding how to address security for the various IT resources.
