Determining the impact of the missing threat is the best course of action for a peer review of a risk assessment, as it helps to assess the potential consequences and severity of the threat on the information system and the business objectives. Determining the impact of the missing threat is a process of estimating and quantifying the possible harm or loss that could result from the occurrence of the threat event, such as data breach, system failure, or service disruption. Determining the impact of the missing threat can help to:
Identify and prioritize the critical assets, processes, and functions that could be affected by the threat
Evaluate and measure the extent and magnitude of the damage or disruption caused by the threat
Analyze and compare the current and residual risk levels and control effectiveness
Develop and implement appropriate risk response and mitigation strategies and actions
Communicate and report the risk exposure and status to the relevant stakeholders
Determining the impact of the missing threat is an essential step to ensure the completeness and accuracy of the risk assessment and to improve the quality and reliability of the risk management and control processes.
The other options are not the best courses of action for a peer review of a risk assessment. Asking the business to make a budget request to remediate the problem is a possible action to allocate the resources and costs for the risk mitigation, but it does not address the root cause or the severity of the problem. Building a business case to remediate the fix is a possible action to justify and support the risk mitigation, but it does not provide a clear and comprehensive analysis of the problem. Researching the types of attacks the threat can present is a possible action to understand and anticipate the threat scenarios andtechniques, but it does not evaluate the actual or potential impact of the threat. References = Risk Assessment and Analysis Methods: Qualitative and Quantitative, IT Risk Resources | ISACA, Peer Review Assessment Framework
