What process involves identifying threats and assessing their probability and criticality?

The process of identifying threats and assessing their probability and criticality is best described as threat assessment. This approach focuses specifically on evaluating potential threats to an organization, including determining how likely they are to occur and the potential impact they would have if they did materialize. By conducting a thorough threat assessment, organizations can prioritize their security measures and allocate resources more effectively to address the most significant risks.

While risk assessment involves a broader evaluation that includes both the likelihood of threats and vulnerabilities, and their potential impacts, a threat assessment is more concentrated on the direct identification and evaluation of threats. Threat analysis tends to focus on the nature and characteristics of specific threats, which does not encompass the assessment of their probability and impact. Vulnerability assessment, on the other hand, is aimed at identifying weaknesses within a system that could be exploited by threats, rather than evaluating the threats themselves directly. Thus, threat assessment is the most precise term for the process outlined in the question, making it the correct answer.