Risk management is the process of identifying, assessing, and managing potential threats that could damage the organization’s Reputation, Financials, and Customers (RFC); and Confidentiality, Integrity, and Availability (CIA) of the business-critical data and information. These risks stem from a variety of sources such as legal liabilities, data-related issues, financial uncertainty, and much more. Additionally, risk management involves proposing plans to increase awareness around potential threats and how to avoid them. Essentially, risk management enables organizations to prepare for the unexpected by minimizing issues before they occur.