thinQmaster Virtual testing partner Adaptive practice exams that find your weak spots and drill them. Every answer explained. From $69
Enroll

thinQmaster

Find your exam

Five questions free, before you decide.

Step 1 · choose a vendor

In one of our camps? Your practice exams come with the tuition — they are on your study page already.

Governance, Risk, Audit & Privacy · Foundational

Risk Analysis

Process of comprehending the nature of risk and determining its level by considering likelihood and impact.

Definition

Risk analysis examines causes, sources, consequences, likelihood, and existing controls to determine a level of risk. It may be qualitative, semi-quantitative, or quantitative. Output feeds risk evaluation, where the level is compared to criteria.

Example

An analyst rates a supplier breach risk as moderate likelihood and severe impact after considering current controls.

Exam tip

Risk analysis determines the level; risk evaluation compares that level to acceptance criteria.

Related terms