What security concept involves evaluating risks and selecting the appropriate controls to mitigate those risks?

Risk management is the security concept that involves the systematic evaluation of risks associated with information assets and the selection of appropriate controls designed to mitigate those risks. It encompasses identifying potential threats and vulnerabilities, assessing the likelihood of those risks occurring, and analyzing the potential impact on the organization.

This process allows organizations to prioritize their resources effectively by implementing controls that address the most significant threats, thereby enhancing their overall security posture. It ensures that risk is managed proactively, rather than reactively, which is crucial for maintaining the integrity, confidentiality, and availability of organizational data.

The other terms do not encapsulate this comprehensive approach. Incident management focuses primarily on responding to and managing security incidents after they occur, rather than assessing risks beforehand. Vulnerability assessment is a specific process that identifies weaknesses in systems but does not involve the broader scope of evaluating risks and implementing controls. Compliance refers to adhering to laws, regulations, and standards, which may involve some aspects of risk management, but it is not exclusively about evaluating risks or selecting controls for mitigation.