Summary

At the beginning of this chapter, we learned about risk and how it differentiates from IT risk. Then, we learned about the IT risk management life cycle and understood the process in detail with the help of an example. We then learned about the legal and compliance requirements of conducting a risk assessment. In the next section, we switched gears to learn about the difference between issues, events, incidents, and breaches and looked at an overview of event correlation.

In the next chapter, we will learn about the fundamentals of risk, that is, threats and vulnerabilities, and how they relate to risk.