Prior to performing an enterprise risk analysis, the security professional MUST first:

Before an enterprise risk analysis can be properly conducted, the security professional must first identify the assets to be protected. These may include people, property, information, and operations. Only after defining what needs protection can threats, vulnerabilities, and risks be effectively evaluated.

A (Identify threats) comes after asset identification.

C (Classify risks) and D (Determine security adequacy) are later stages in the risk management process.