The National Institute of Standards and Technology (NIST) defines Risk Assessment as “The process of identifying risks to agency operations (including mission, functions, image, or reputation), agency assets, or individuals by determining the probability of occurrence, the resulting impact, and additional security controls that would mitigate this impact.”
When broken down, the objective of a Risk Assessment is to enable you to recognize environmental (inherent or quantitative/qualitative) risks within and against your environments, allowing for planning and remittance or mitigation.