What is the purpose of performing periodic risk reevaluation?

The purpose of performing periodic risk reevaluation primarily focuses on assessing the effectiveness of existing controls. In a dynamic threat landscape, the risks faced by an organization can change, requiring a continual assessment of whether current controls are sufficient to mitigate those risks effectively. By regularly reevaluating risks, an organization can determine if its controls are properly addressing vulnerabilities, or if adjustments need to be made.

This process helps ensure that the organization's risk management strategies remain relevant and effective in light of new threats or changes in the organization's environment. It provides insights into the organization's risk posture and informs management about the status of compliance with risk management policies.

Periodic risk reevaluation is crucial for maintaining the resilience of both the security posture and overall business operations. It enables organizations to proactively manage risks as opposed to reactively responding to incidents or breaches, which may result from outdated or ineffective controls.