What risk management concept involves analyzing the likelihood of a threat exploiting a vulnerability?

The concept of analyzing the likelihood of a threat exploiting a vulnerability is known as a threat assessment. This process involves identifying potential threats, determining the vulnerabilities present within a system or organization, and estimating the probability that those threats may successfully exploit those vulnerabilities.

A threat assessment helps organizations understand the nature and severity of threats they face and allows for a focused approach to risk management. By carefully evaluating the interaction between threats and vulnerabilities, organizations can prioritize their security measures and allocate resources effectively to address the most significant risks.

Impact assessment, risk mitigation, and compliance verification have distinct roles within risk management but do not specifically focus on the relationship between threats and vulnerabilities in the same way that a threat assessment does. An impact assessment typically evaluates the consequences of security incidents, risk mitigation refers to strategies designed to reduce or eliminate risks, and compliance verification ensures that security practices meet established standards and regulations.