According to the official documentation, it's this....
Identifies the sources, causes, consequences, etc. of the internal and external risks affecting the security of the organization
Risk Identification
It is the initial step of the risk management plan. The main aim is to identify the risks - sources, causes, consequences, etc. of the internal and external risks affecting the security of the organization before they cause harm to the organization. The risk identification process depends on the skill set of the people and it differs from one organization to the other.
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