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It involves identifying potential risks and threats that could compromise the security of an organization's data.
Once these risks have been identified, a plan can be developed to manage them effectively.
This plan should include measures such as preventative controls to reduce the chance of a security breach and detection controls to detect any breaches.
It is important to review and update the risk management plan regularly so that it remains effective over time.
Failure to effectively manage security risks can lead to data breaches, which can be costly in terms of both financial and reputational damage.
That's why it's essential that organizations take risk management seriously and make it a top priority.
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