The first step of a formal risk assessment is System Classification. What occurs

Question

The first step of a formal risk assessment is System Classification. What occurs in this step and what is its importance in the overall process?

When performing a Risk Determination in the NIST process (and most other methods as well), you construct a risk matrix to quantify levels of expected threat. Draw out a risk matrix and put in some hypothetical risks that might apply to systems here on campus.

What considerations are taken when determining if a potential system breach is high- medium- or low-threat in the NIST methodology? How does this differ if using STRIDE?

Explanation / Answer

As we know that risk assessment is a term used to describe the overall process or method where you:

->Identify hazards and risk factors that have the potential to cause harm.

->Analyze and evaluate the risk associated with that hazard.

->Determine appropriate ways to eliminate the hazard, or control the risk when the hazard cannot be eliminated.

As of now Risk assessment -the overall process of hazard identification, risk analysis, and risk evaluation.

Rsik assessment is very important beacuse we know that :

->Create awareness of hazards and risk.

->Identify who may be at risk (e.g., employees, cleaners, visitors, contractors, the public, etc.).

->Determine whether a control program is required for a particular hazard.

->Determine if existing control measures are adequate or if more should be done.

->Prevent injuries or illnesses, especially when done at the design or planning stage.

Hope this answer helps you.

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