Risk assessments help prioritize security controls by identifying vulnerabilities, evaluating threats, and estimating potential impacts. In this episode, we break down how to conduct both qualitative and quantitative assessments, including risk matrix construction, asset valuation, and likelihood estimation. We also explain gap analysis—comparing current security posture against frameworks, regulations, or internal standards to find missing controls. CISSPs must be able to interpret these assessments, communicate their implications to stakeholders, and use them to justify security investments and policy changes.