Which process involves assessing the effectiveness of existing countermeasures against known vulnerabilities?

The process that involves assessing the effectiveness of existing countermeasures against known vulnerabilities is risk assessment. This procedure is critical in identifying, evaluating, and prioritizing risks, followed by the coordinated application of resources to minimize, monitor, and control the probability of unfortunate events or to maximize the realization of opportunities.

During a risk assessment, organizations review current security measures to determine how well they address identified vulnerabilities and threats. This thorough evaluation helps ensure that the measures in place are effective and can provide a basis for deciding if additional countermeasures are needed.

Cost benefit analysis focuses on weighing the costs of countermeasures against their benefits, while regression analysis is primarily utilized in statistical contexts to understand relationships among variables rather than in risk management. Threat analysis, on the other hand, is aimed at identifying and evaluating potential threats but does not specifically assess the effectiveness of the countermeasures currently in place.