What is the first step in the risk management process that helps to reduce the impact of threats and vulnerabilities?
- Frame the risk.
- Assess the risk.
- Monitor the risk.
- Respond to the risk.
Explanation: Risk management is a formal process that reduces the impact of threats and vulnerabilities. The process involves four general steps:
- Frame the risk - Identify the threats throughout the organization that increase risk.
- Assess the risk - Once a risk has been identified, it is assessed and analyzed to determine the severity that the threat poses.
- Respond to the risk - Develop an action plan to reduce overall organization risk exposure. Management should rank and prioritize threats and a team determines how to respond to each threat.
- Monitor the risk - Continuously review risk reductions due to elimination, mitigation and transfer actions.
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