Which of the following statements best describes risk management?

The best description of risk management encompasses a broader scope than simply identifying potential risks or focusing solely on software vulnerabilities. It involves not only the identification of risks but also the implementation of strategies to mitigate those risks effectively. This process includes assessing both the likelihood and potential impact of identified risks and developing action plans to reduce them.

Risk management is proactive; it aims to foresee potential incidents and minimize their consequences before they occur, rather than reacting after incidents have already taken place. This distinguishes effective risk management from approaches that solely focus on addressing vulnerabilities or post-incident analysis. By implementing strategies to mitigate risks, organizations can safeguard assets, enhance decision-making, and improve overall security posture.