Prabh Nair discusses the Incident Management process, essential for CISp, IC square, ISAKA Kopshia EC console exams, and job interviews like JRC SOCK. The process is divided into four stages: preparation, detection and analysis, containment eradication and recovery, and post-incident activity. The goal is to reduce impact. An incident negatively impacts the organization, while an event is any activity with a business objective. The thin line between them is when an event breaches SLAs and affects CIA, becoming an incident. Every incident is an event, but not vice versa.