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Risk Management Life Cycle – 4-1-4
CASP+ - CAS-004
What is the Risk Management Lifecycle?
Risk
Management
Lifecycle
Identify
Assess
Control
Review
Risk Management..
Policies and
processes used by
an organization to
locate, describe,
prioritize, and
mitigate risks in a
consistent and
repeatable way.
Identify—Recognize
Assess—Analyze
Control—Reduce
Review—Re-evaluate
What are Risk Frameworks?
o The basis of a risk management program
o An authoritative reference
o Select based on unique attributes and features (one size fits
YOU !!!)
o NIST Cybersecurity Framework (CSF)
o NIST Risk Management Framework (RMF)
o ISO 31000: 2018 - Risk Management Guidelines
o Control Objectives for Information and Related Technologies
(COBIT)
o Committee of Sponsoring Organizations of the Treadway
Commission, (COSO) Enterprise Risk Management — Integrated
Framework
NIST Cybersecurity Framework Goals
o Consistent and cost-effective
application of security controls
o Repeatable processes and
assessment results
o Technology neutral and flexible
o Understanding of enterprise-wide
mission risks
o Implement an efficient risk-based
security and privacy program
NIST Cybersecurity Framework (CSF)
Categories
Functions
Identify Protect Detect Respond Recover
Asset
Management
Business
Environment
Governance
Risk
Assessment
Risk
Management
Strategy
Access
Control
Awareness
and Training
Data Security
Info
Protection
Processes and
Procedure
Maintenance
Anomalies
and Events
Security
Continuous
Monitoring
Detection
Processes
Response
Planning
Communication
s
Analysis
Mitigation
Improvements
Recovery
Planning
Improvements
Communication
s
Protective
Technology
Supply Chain
Risk
Management
NIST Risk Management Framework (RMF) Steps
Categorize
System
Select
Controls
Implement
Controls
Assess
Controls
Authorize
System
Monitor
Controls
Prepare
NIST RMF Goals
Consistent and cost-
effective application of
security controls
Repeatable processes
and assessment results
Technology neutral
and flexible
Understanding of
enterprise-wide mission
risks
Implement an efficient
risk-based security and
privacy program
Control Categories & Objectives
People
Technology
Process

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Risk Management Life Cycle – 4-1-4.pptx

  • 1. Risk Management Life Cycle – 4-1-4 CASP+ - CAS-004
  • 2. What is the Risk Management Lifecycle? Risk Management Lifecycle Identify Assess Control Review Risk Management.. Policies and processes used by an organization to locate, describe, prioritize, and mitigate risks in a consistent and repeatable way. Identify—Recognize Assess—Analyze Control—Reduce Review—Re-evaluate
  • 3. What are Risk Frameworks? o The basis of a risk management program o An authoritative reference o Select based on unique attributes and features (one size fits YOU !!!) o NIST Cybersecurity Framework (CSF) o NIST Risk Management Framework (RMF) o ISO 31000: 2018 - Risk Management Guidelines o Control Objectives for Information and Related Technologies (COBIT) o Committee of Sponsoring Organizations of the Treadway Commission, (COSO) Enterprise Risk Management — Integrated Framework
  • 4. NIST Cybersecurity Framework Goals o Consistent and cost-effective application of security controls o Repeatable processes and assessment results o Technology neutral and flexible o Understanding of enterprise-wide mission risks o Implement an efficient risk-based security and privacy program
  • 5. NIST Cybersecurity Framework (CSF) Categories Functions Identify Protect Detect Respond Recover Asset Management Business Environment Governance Risk Assessment Risk Management Strategy Access Control Awareness and Training Data Security Info Protection Processes and Procedure Maintenance Anomalies and Events Security Continuous Monitoring Detection Processes Response Planning Communication s Analysis Mitigation Improvements Recovery Planning Improvements Communication s Protective Technology Supply Chain Risk Management
  • 6. NIST Risk Management Framework (RMF) Steps Categorize System Select Controls Implement Controls Assess Controls Authorize System Monitor Controls Prepare
  • 7. NIST RMF Goals Consistent and cost- effective application of security controls Repeatable processes and assessment results Technology neutral and flexible Understanding of enterprise-wide mission risks Implement an efficient risk-based security and privacy program
  • 8. Control Categories & Objectives People Technology Process

Editor's Notes

  1. The NIST Cybersecurity Framework is a leading source of directions for cybersecurity programs of any size. By following NIST CSF, small and medium businesses experience fewer breaches and compliance issues for protection against cyberattacks. Created through collaboration between industry and government, the voluntary Framework consists of standards, guidelines, and practices to promote the protection of critical infrastructure. Source: https://nvlpubs.nist.gov/nistpubs/CSWP/NIST.CSWP.04162018.pdf https://www.nist.gov/cyberframework/online-learning/uses-and-benefits-framework
  2. The NIST RMF Goals include: A consistent and cost-effective application of security across your infrastructure. This is how you implement security defenses within your organization. Repeatable processes provides consistent and comparable assessment results. A technology neutral and flexible approach means it can fit for any type or size organization Understanding of enterprise-wide mission risks ties cybersecurity to business processes. All of this is to implement an efficient, risk-based information security and privacy program. Understanding cyber risks and taking a risk-based approach to security improves an organization’s effectiveness, efficiency, and depth of protection.