Risk Analysis

An analysis that examines an organization’s information resources, its existing controls, and its remaining organization and computer system vulnerabilities. It combines the loss potential for each resource or combination of resources with an estimated rate of occurrence to establish a potential level of damage in dollars or other assets. An element of risk management that includes analyzing an environment for risks, evaluating each risk as to its likelihood of occurring and cost of damage, assessing the cost of various countermeasures for each risk, and creating a cost/benefit report for safeguards to present to upper management. Examination of information to identify the risk to an information system.