Conducting a Cyber Security Risk Assessment. Rick does not exist uniformly throughout a business, Many businesses have critical processes, procedures and assets essential to business operations. The goal of conducting a cyber-security risk assessment is to identify critical processes and assess including the IT systems and software critical to the business.
Once critical operations have been identified, each component should be evaluated and a risk rated. Appropriate security policies and controls to mitigate against identified risks
An organisation risk may also depend on relevant regulation such as GDPR for business that store personal information (Personally Identifiable Information), personal health information and industry standards such as PCI-DSS for business that handle payment card data.
Violating regulations and industry standards have consequences such as fines. This should be considered as part of the risk assessment.