What type of risk is crucial to identify continually in effective risk management?

New risk is crucial to identify continually in effective risk management because the threat landscape is constantly evolving. Organizations face a range of dynamic factors, including emerging technologies, changing business environments, regulatory updates, and the shifting tactics used by adversaries. As a result, new vulnerabilities and threats can surface, posing risks that were previously unidentified.

Effective risk management requires organizations to maintain vigilance and continuously monitor for new risks. This proactive approach enables them to adapt their security strategies and control measures to mitigate these emerging threats promptly, ensuring that risk exposure is minimized. By focusing on new risks, organizations can also prioritize their resources effectively, addressing the most pertinent threats before they escalate into significant issues.

Inherent risk represents the level of risk that exists in the absence of any controls, while residual risk is the remaining risk after controls have been applied. Acceptable risk refers to the level of risk that an organization is willing to tolerate. Although these aspects are important in understanding the overall risk landscape, it is the identification of new risks that is particularly vital for maintaining an effective and responsive risk management strategy.