What major step in a security risk assessment involves determining potential threats?

The correct choice focuses on the critical process of threat identification, which is a fundamental step in any security risk assessment. This step involves systematically recognizing and listing all potential threats that could exploit vulnerabilities within an organization’s systems or assets.

Identifying threats is essential as it allows security professionals to understand the specific risks that need to be addressed. This information is key to forming a comprehensive security strategy, allocating resources effectively, and ensuring adequate defenses against various possible incidents. The analysis performed during this stage includes examining various threat sources, such as natural disasters, human actions, technological failures, and other risks tailored to the organization’s context.

Other steps in a security risk assessment, such as asset replacement and event identification, do not primarily focus on understanding the threats. Asset replacement pertains more to the management of physical or digital assets rather than the assessment of risk factors. Similarly, event identification is about recognizing incidents that have occurred or could occur rather than the proactive step of identifying threats. Cost-benefit analysis, while important for evaluating the financial implications of implementing security measures, does not directly involve recognizing potential threats. Therefore, the emphasis on threat identification as a pivotal part of risk assessment makes it the correct answer.