What is the first activity when developing a risk management program?

The first activity when developing a risk management program is the inventory of assets. This step is crucial because it establishes a clear understanding of what assets the organization possesses, including physical, digital, and intellectual properties. By creating a comprehensive inventory, the organization can begin to identify which assets are critical to operations and prioritize them in further risk management activities.

Once the assets are identified, the organization can proceed to assess threats, classify data, and conduct criticality analysis more effectively. Each of these subsequent steps relies on the foundational knowledge gained from the inventory. Without it, there could be gaps in understanding the risks associated with specific assets, which undermines the entire risk management framework. Having a detailed inventory helps ensure that the risk management program is focused and aligned with the organization's objectives and priorities.