Risk-Based Approach (RBA)

A Risk-Based Approach (RBA) is a method used to prioritize actions and resources based on an assessment of potential threats or risks. Instead of treating all risks equally, it focuses on identifying which risks pose the greatest impact or likelihood, and then addressing those first. This approach helps organizations allocate their efforts efficiently, ensuring they are prepared for the most significant risks while avoiding unnecessary expenditure on less critical issues. Essentially, RBA promotes targeted, informed decision-making by evaluating and managing risks based on their severity and probability.