Which of the following is a common step in risk assessment?

Identifying threats is a fundamental step in risk assessment because it allows organizations to recognize potential risks that could affect their assets, operations, and reputation. This process involves systematically pinpointing what could go wrong, including various sources such as natural disasters, cyber threats, and internal vulnerabilities. Once threats are identified, organizations can evaluate their potential impact and likelihood, which is essential for prioritizing risks and implementing appropriate mitigation strategies.

Understanding and identifying threats serves as the foundation for the entire risk management process. It enables organizations to develop a clearer picture of their risk landscape, ensuring that they can take proactive measures to protect their resources, comply with regulations, and ensure business continuity.