Risk management in cybersecurity is a systematic process of identifying, assessing, prioritizing, and mitigating potential threats and vulnerabilities to an organization's digital assets to reduce the impact and likelihood of security incidents. It involves a series of steps and strategies to safeguard an organization's IT systems and data.
Risk management is an ongoing and iterative process, as new threats and vulnerabilities continually emerge. A well-implemented cyber risk management program helps organizations make informed decisions, reduce the likelihood of security breaches, and minimize the impact when incidents occur.