Final answer:
Risk management involves applying security mechanisms to reduce organizational data and system risks, which includes identifying potential threats like data breaches and implementing controls to mitigate them.
Step-by-step explanation:
Risk management is the application of security mechanisms to reduce the risks to an organization's data and information systems. In the context of information technology, this practice is essential for protecting sensitive information from threats such as data breaches, which can have significant financial and reputational consequences. By implementing strategic risk management processes, organizations can identify potential vulnerabilities and take proactive steps to mitigate them.
Example of Risk Management Process:
Identify the risks that could impact data and information systems.
Analyze the potential frequency and severity of these risks.
Implement controls to prevent, detect, or minimize damage.
Regularly monitor and review the effectiveness of these controls.
Update and adjust controls as necessary to adapt to new threats.
The goal is to safeguard the integrity, availability, and confidentiality of data, which is of paramount importance in the digital age. By utilizing a combination of technological solutions and organizational policies, companies can effectively manage and lower the risks associated with cyber threats.