Risk Assessment Frequency

(OBJ 5.2)

Regularity with which risk assessments are conducted within an organization
Risk assessment frequency varies based on the organization's needs and type of risks

Ad-Hoc Risk Assessments
- Conducted as needed, often in response to specific events or situations
- Address potential new risks or changes in existing risks
- Examples: when launching a product or implementing a patch
Recurring Risk Assessments
- Conducted at regular intervals (e.g., annually, quarterly, monthly)
- Part of standard operating procedures for continual risk identification and management
- Schedule regularly
One-Time Risk Assessments
- Conducted for specific projects or initiatives
- Not repeated, associated with a particular purpose
- Example: when implementing a new IT system, or planning significant organizational changes
- Ad-Hoc vs. One-Time what is the difference?
  - One-Time risk assessments are associated with a specific project or initiative and are not repeated.
  - Ad-Hoc risk assessments are conducted in response to a specific event or situation and may be repeated on similar circumstances
Continuous Risk Assessments
- Ongoing monitoring and evaluation of risks
- Enabled by technology, involving real-time data collection and analysis
- Used for proactive threat and vulnerability monitoring, facilitating quick responses