The purpose of this deliverable is to perform and present a desk research on the term “Situational Awareness” (SA) and Real-Time Risk Assessment Models. Towards that, an in-depth literature review was performed that revealed several research initiatives and numerous approaches, addressing different issues and barriers. This document aims to present the findings of this research and shed some light by presenting the state of the art on SA, discover existing standards, frameworks, tools, and methodologies that address the situational awareness in the cybersecurity domain