1 Human, Organizational & Regulatory Aspects Risk Management and Governance 1.1 INTRODUCTION This knowledge Area will explain the fundamental principles of cyber risk assessment and management and their role in risk governance, expanding on these to cover the knowledge required to gain a working understanding of the topic and its sub-area. We begin by discussing the relationship between everyday risk and why this is important in today's interconnected digital world. We explain why, as humans, we need effective risk assessment and management principles to support the capture and communication of factors that may impact our values. We then move on to describe different perspectives on cyber risk assessment -from individual assets, to whole-system goals and objectives. We unpick some of the major risk assessment methods and highlight their main uses and limitations, as well as providing pointers to more detailed information. Security metrics are an ongoing topic of debate in the
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