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The Risk Management Framework (RMF) is a United States federal government guideline, standard, and process for managing risk to help secure information systems (computers and networks). The RMF was developed by the National Institute of Standards and Technology (NIST), and provides a structured process that integrates information security ...
There is also an additional category in this Function focused on cybersecurity supply chain risk management. The latest update also provides greater information on cybersecurity assessments by placing greater importance on the continuous improvement of security through a new Improvement Category in the Identify Function.
The Certified Information Systems Auditor Review Manual 2006 by ISACA provides this definition of risk management: "Risk management is the process of identifying vulnerabilities and threats to the information resources used by an organization in achieving business objectives, and deciding what countermeasures, if any, to take in reducing risk to an acceptable level, based on the value of the ...
Developed in response to growing cyber threats and the need for standardized practices, the CSF provides a risk-based approach to managing cybersecurity risks. It is structured around five core functions: Identify, Protect, Detect, Respond, and Recover, each representing a critical phase in cybersecurity risk management. [29]
Objective A: Managing security risk. A.1 Governance; A.2 Risk management; A.3 Asset management; A.4 Supply chain; Objective B: Protecting against cyber attack. B.1 Service protection policies and procedures; B.2 Identity and access control; B.3 Data security; B.4 System security; B.5 Resilient networks and systems; B.6 Staff awareness and training
A vulnerability assessment is the process of identifying, quantifying, and prioritizing (or ranking) the vulnerabilities in a system. Examples of systems for which vulnerability assessments are performed include, but are not limited to, information technology systems, energy supply systems, water supply systems, transportation systems, and communication systems.
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An ISMS includes and lends to risk management and mitigation strategies. Additionally, an organization's adoption of an ISMS indicates that it is systematically identifying, assessing, and managing information security risks and "will be capable of successfully addressing information confidentiality, integrity, and availability requirements."