Security risk is the business harm that can follow a security failure: legal and regulatory costs, damage to your reputation, lost customer trust, lost sales, and disruption to operations.
A security risk assessment identifies what matters most to your business, the threats and vulnerabilities that could affect it, and how well your current controls hold up. Each security risk is rated by likelihood and business impact, so you know which ones need attention first.
It is the foundation of every security program, and a documented risk assessment is required by HIPAA, ISO 27001, SOC 2, PCI DSS, CMMC, and FedRAMP, as well as security frameworks such as the NIST Cybersecurity Framework. We follow recognized NIST and ISO 27001 security risk practices, so the results stand up to auditors as well as your leadership.