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Assessing risk is an important part of any organization when it comes to cyber security. Risk is typically assessed using the NIST management cycle $($NIST$,2024).$ It can be categorized into $7$ different steps: prepare, categorize, select, implement, assess, authorize and monitor. First we must prepare our organization to manage any security and privacy risks. Next we categorize all systems affected and any information stored, processed and transmitted. Then we select the controls to protect the affected system and we implement and document the controls and assess that they are operating as intended. We then make the decision to authorize the system$($s$)$ to operate, and finally we monitor the system.

Cyber security risk management is an ongoing process which an entire organization has to participate in$.$ Departments need to work together to identify, analyze, evaluate, and address risks $($Knowles$,2024).$ This is to ensure regulatory compliance, protection of data, and business continuity. In regards to previous lectures, I would say that one part of risk management would be vulnerability management. Once vulnerabilities are discovered, they need to be assessed and evaluated in order to be corrected, and change management is a process that involves the entire organization from the top down. Another essential part of risk management is continually conducting cyber security awareness training, as well as implementing appropriate use policies. Several best practices for risk assessment and mitigation are deploying multi$-$factor authentication, keeping software up to date, and having a thorough list of all assets in order to identify any vulnerabilities.