Grasp
Understand
noun, verbal noun
Using the grasp meaning of 把 and combining it with grip, you can tell you're grasping at something and then gripping it. I usually grasp then grip at things flying at me, which makes this word mean grasp or understand.
This is a jukugo word that uses the on'yomi readings of the kanji. You should be able to read this on your own.
正直、まだ事態の把握すら出来ていない状況です。
Honestly, I haven’t even been able to grasp the overall situation yet.