Which phase involves the periodic re-evaluation of risks to confirm their current threat levels and effectiveness of controls?

The phase that involves the periodic re-evaluation of risks to confirm their current threat levels and the effectiveness of controls is the Review phase. This phase is crucial as it allows organizations to stay proactive in their cybersecurity posture. Regular review ensures that the risk landscape is continuously monitored and that control measures are still effective against any changes in the environment or threat actors' tactics. It provides an opportunity to adjust strategies and implement any necessary updates to maintain the integrity and security of assets.

In cybersecurity, risks can evolve due to emerging threats, changes in technology, or updates in organizational operations. The Review phase helps ensure that an organization remains vigilant and capable of responding to these potential changes. Thus, this phase plays a vital role in a comprehensive risk management strategy.