What is the difference between a threat assessment and a risk assessment?

A threat assessment is primarily focused on identifying potential threats or hazards that could affect an organization, its personnel, or its assets. This can include various types of threats such as physical security risks, cybersecurity vulnerabilities, or other malicious intents that may harm the organization. The emphasis is on recognizing these threats in order to understand what dangers may exist.

On the other hand, a risk assessment takes this process a step further by not only identifying potential threats but also evaluating the likelihood of these threats occurring and assessing their potential impact if they do. This involves a systematic approach to analyzing how severe the consequences would be and how often one might expect these threats to manifest. The results from a risk assessment can then inform decision-making and resource allocation to mitigate those risks.

This distinction between the two assessments is fundamental in security planning, as it allows organizations to not only recognize threats but also prioritize their responses based on the evaluation of risk associated with those threats.