Virtualization technology can deliver better IT asset utilization, more agile IT asset allocation, more efficient use of resources, while supporting a potentially more secure IT infrastructure. Virtualization accomplishes these benefits by leveraging mechanisms which provide a) asset isolation, b) resource sharing and c) provisioning dynamics. This session will address how to use configuration and behavioral information to address the increased complexity of security, compliance and risk assessment in virtualized environments. Comprehensive security and risk situation awareness of more dynamic, more interdependent, and more insulated assets, will allow enterprises to take fuller advantage of the promised benefits of virtualization. This session will also briefly address extension of these considerations to the cloud and utility computing infrastructures.