The life cycle of risk management in information security
Effective risk management is crucial to the successful execution of an organization’s information security program. The Risk Management Framework (RMF), as outlined in the NIST Special Publication 800-37 Revision 1, provides a comprehensive life cycle model for identifying, evaluating, and addressing risks related to information and information systems. The life cycle of risk management consists of several essential stages, which are integral to safeguarding an organization’s information security. You can see this in the following figure:
Figure 4.2 – Risk management framework process
Let’s look at the stages involved:
- Categorizing information systems: In this initial phase, organizations classify their information systems based on the impact a security breach would have on their operations, assets, and individuals. This process helps prioritize risk management...
