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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 ...
ISO 31000 is a family of international standards relating to risk management codified by the International Organization for Standardization. [1] The standard is intended to provide a consistent vocabulary and methodology for assessing and managing risk, resolving the historic ambiguities and differences in the ways risk are described.
A risk management plan is a document to foresee risks, estimate impacts, and define responses to risks. It also contains a risk assessment matrix.According to the Project Management Institute, a risk management plan is a "component of the project, program, or portfolio management plan that describes how risk management activities will be structured and performed".
NIST Special Publication 800-37 Rev. 1 was published in February 2010 under the title "Guide for Applying the Risk Management Framework to Federal Information Systems: A Security Life Cycle Approach". This version described six steps in the RMF lifecycle. Rev. 1 was withdrawn on December 20, 2019 and superseded by SP 800-37 Rev. 2. [1]
This page was last edited on 22 September 2024, at 15:10 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may apply.
Risk is the potential of losing something of value, weighed against the potential to gain something of value. Risk hinders the achievement of objective and it has two attributes. Likelihood: Probability of Risk Event (P) Consequences: Impact of Risk Event (I) In Risk based internal auditing two types of risks are considered. Inherent risk
Risk assessment determines possible mishaps, their likelihood and consequences, and the tolerances for such events. [1] The results of this process may be expressed in a quantitative or qualitative fashion. Risk assessment is an inherent part of a broader risk management strategy to help reduce any potential risk-related consequences. [1] [2]
ERM provides a framework for risk management, which typically involves identifying particular events or circumstances relevant to the organization's objectives (threats and opportunities), assessing them in terms of likelihood and magnitude of impact, determining a response strategy, and monitoring process. By identifying and proactively ...
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