A risk assessment is a process to uncover gaps and to document a road map for better cybersecurity practices and organizational resilience. It can often determine the cost and likelihood of an incident while quantifying the need for security spending.

An Incident Response Plan is an operational playbook that helps minimize the financial and reputational impact caused by an incident for an organization. By creating an Incident Response plan and team, organizations respond better to cybersecurity incidents, quickly resuming normal business operations, and promptly alerting relevant stakeholders, authorities, and regulatory agencies to meet all regulatory requirements.