Senior management has requested a budget cut for the information security program in the coming fiscal year. Which of the following should be the information security manager's FIRST course of action?

Before any other action, the information security manager must understand the direct consequences of the budget cut on existing controls, planned initiatives, and the overall ability to manage risk. This analysis provides the necessary data to inform further decisions, communicate risks to stakeholders, and justify alternative approaches.

Advising business unit heads prematurely without a clear understanding of the impact could cause unnecessary alarm or provide inaccurate information.

While evaluating cost savings is a subsequent step, the initial and most critical action is to assess the potential damage or reduced capability due to the requested cut.

Reprioritization is a logical next step after understanding the full impact of the budget cut on current priorities and risk levels.