Explain the importance of reviewing historical documentation, including past risk assessments, business impact analyses, security policies and procedures, and incident reports, as a foundation for risk mitigation planning. How can analyzing past vulnerabilities and threats inform the identification of similar risks in the present? Discuss the trade-off between focusing on specific risks and vulnerabilities for individual systems and functions (narrow focus) versus taking a broader organizational perspective (broad focus) when planning risk mitigation strategies. Highlight the benefits and limitations of each approach.

Explain the importance of reviewing historical documentation, including past risk assessments, business impact analyses, security policies and procedures, and incident reports, as a foundation for risk mitigation planning. How can analyzing past vulnerabilities and threats inform the identification of similar risks in the present? Discuss the trade-off between focusing on specific risks and vulnerabilities for individual systems and functions (narrow focus) versus taking a broader organizational perspective (broad focus) when planning risk mitigation strategies. Highlight the benefits and limitations of each approach.