What is a primary focus during the assessment phase of risk management?

During the assessment phase of risk management, the primary focus is on estimating the potential impacts of identified risks. This step is critical in understanding how different risks can affect the organization, which helps in prioritizing and addressing them effectively. By evaluating the likelihood of each risk occurring and the potential consequences if they do, organizations can make informed decisions about which risks to mitigate, transfer, accept, or avoid.

In this context, simply imposing strict penalties on offenders would not contribute to a thorough understanding of risks and their impacts. Creating new policies for the entire organization is more about setting guidelines and protocols to manage risks but does not directly relate to the nuanced evaluation of risks themselves. Similarly, developing innovative marketing strategies is unrelated to risk assessment, as it pertains to business growth and market positioning rather than understanding and managing risks within the organization. Thus, estimating potential impacts is the fundamental activity that guides effective risk management during the assessment phase.