What is a key component of risk management according to DSAC Annex B?

Identifying potential threats and vulnerabilities is a fundamental aspect of risk management as it lays the groundwork for understanding how various risks can impact an organization. This process involves a systematic assessment of the environment, systems, and processes to pinpoint areas that might be susceptible to risks, which can include both internal and external threats.

By identifying these risks, organizations can then prioritize them based on their potential impact and likelihood of occurrence. This allows for the formulation of targeted strategies to mitigate, transfer, accept, or avoid those risks. Effective risk management relies heavily on this foundational step, as it ensures that resources are allocated efficiently to address the most significant threats.

The other options, while they may contribute to the overall security posture of an organization, do not represent the initial critical step in the risk management process. Implementing training programs, creating budgets, and outsourcing operations are all important, but they generally follow the identification of risks, which is essential for guiding these subsequent actions.