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The first step in security planning is to perform a risk assessment by analyzing potential areas of loss, their likelihood, and their potential impact. This assessment provides the foundation for prioritizing risks and allocating resources effectively. * Identify Assets: * Determine what needs to be protected. * Assess Risks: * Evaluate threats, vulnerabilities, and the probability of occurrence. * Determine Impact: * Analyze the severity of consequences associated with each risk. * A: Resource planning comes after risk assessment. * C: Planning follows the initial risk analysis. * D: Budgeting is an operational step, not the starting point. Key Steps in Risk Assessment:Why Other Options Are Incorrect:ASIS CPP References: * Domain 1: Security Principles and PracticesCovers the importance of risk assessments in security planning.