Your security manager needs to determine which risks to minimize based on cost. This is an example of: _________.

Quantitative risk assessment involves assigning numerical values to the likelihood of an event occurring and the impact it would have. On the other hand, qualitative risk assessment involves prioritizing risks based on their potential danger, such as low, medium, and high. A business impact analysis (BIA) is conducted to assess the potential impact on a business should a critical system operation be interrupted due to an accident, emergency, or disaster. Threat assessment is the process of identifying and categorizing various threats, including environmental and human-made risks, and attempting to determine their potential impact.