A NIST cyber risk assessment is a structured evaluation of cybersecurity risks aligned with the NIST Cybersecurity Framework (CSF) or NIST SP 800-30 guidelines. It involves identifying assets, threats, vulnerabilities, and existing controls, then analysing potential impact and likelihood to determine overall risk exposure. Organisations conduct a NIST cyber risk assessment to prioritise remediation, strengthen security posture, and demonstrate regulatory alignment. By mapping risks to the NIST framework’s core functions—Identify, Protect, Detect, Respond, and Recover—a NIST cyber risk assessment provides clear accountability and measurable improvement pathways. Many organisations use software platforms to automate scoring, documentation, and reporting associated with a NIST cyber risk assessment. This ensures consistency, defensibility, and board-level transparency.