The risk management cycle is a process of identifying, assessing, planning, monitoring, and controlling elements and events that may have a negative impact on the company.

Vulnerabilities exist when there are weaknesses in a system, or the lack of a safeguard to protect the system.

Validation of risk management processes may be performed both internally (by members of the company) or externally (by third parties who are designated or contracted to validate such changes).

Risks are the potential for loss, resulting from something that has a negative impact on project objectives or the company's ability to perform normal business functions.

Threats are the potential for an event or other source to use a particular vulnerability to cause damage. It is something that adversely effects the confidentiality, availability, or integrity of a project or business.

Risks and threats may come in any variety of forms, inclusive to disasters, social issues, unauthorized access, internal problems, hardware and software problems, or issues relating to the risk management process.

Risk mitigation is the process of reducing risk to an acceptable level through controls and safeguards.

Safeguards are implemented to protect against a given threat, thereby lowering the potential damage that could be caused if the risk became an actual problem.

Risk mitigation options consist of assumption, avoidance, limitation, planning, research, and transference

Business continuity plans are a collection of different plans that focus on restoring the...