Cyber Risk assessments are used to identify, estimate, and prioritize threat to organizational operations (i.E., mission, functions, image, and reputation), organizational assets, individuals, other organizations, and the Nation, because of the operation and use of statistics systems.
NIST has designed the framework that individual businesses and all rest organizations use as tool for the business risk they face to guide their framework in an optimized way.
NIST has divided the framework into three parts: the Framework Core, Framework Implementation Tiers and Framework Profiles.
At any rate, the primary purpose of a cyber risk assessment is to help inform decision-makers and to support proper risk responses. Bear in mind, most C-suite executives and even some directors don’t have time to delve into the minutiae of your day-to-day cyber operations. So this cyber risk assessment will serve as a sort of executive summary to help those parties make informed decisions about security.