Question 303 - CISM discussion

Threat and vulnerability assessments are important primarily because they are the basis for setting control objectives. Control objectives are the desired outcomes of implementing security controls, and they should be aligned with the organization's risk appetite and business objectives. Threat and vulnerability assessments help to identify the potential sources and impacts of security incidents, and to prioritize the mitigation actions based on the likelihood and severity of the risks. By conducting threat and vulnerability assessments, the organization can establish the appropriate level and type of security controls to protect its information assets and reduce the residual risk to an acceptable level.Reference= CISM Review Manual (Digital Version), Chapter 3: Information Security Risk Management, Section 3.1: Risk Identification, p.115-1161. CISM Review Manual (Print Version), Chapter 3: Information Security Risk Management, Section 3.1: Risk Identification, p.115-1162. CISM ITEM DEVELOPMENT GUIDE, Domain 3: Information Security Program Development and Management, Task Statement 3.1, p.193.

Threat and vulnerability assessments are important PRIMARILY because they are the basis for setting control objectives. Control objectives are the desired outcomes or goals of implementing security controls in an information system. They are derived from the risk assessment process, which identifies and evaluates the threats and vulnerabilities that could affect the system's confidentiality, integrity and availability. By conducting threat and vulnerability assessments, an organization can determine the level of risk it faces and establish the appropriate control objectives to mitigate those risks.