phases of the Risk Management Framework

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As the CISO, you are heading a newly assembled project team to focus on securing the PCS Corporate network. You have selected the NIST Risk Management Framework (RMF) as the basis of your program due to the large number of government contracts you support. Your first tasking is to analyze the system and determine what security requirements are appropriate.Consider the six phases of the Risk Management Framework and how each phase adds value to securing the corporate network. Make a case for the phase that PCS should spend the most time and resources in accomplishing. Include at least one research reference and associated in-text citation using APA standards. In your replies to your peers discuss the other ideas presented by the RMF team.

Consider the six phases of the Risk Management Framework and how each phase adds value to securing the corporate network.


The Risk Management Framework is a set of best practices for network security. It provides guidance on how to identify and mitigate risks, as well as steps for incident response. The framework was originally developed by the NCSC in 1999 and updated in 2014 by NIST/NSA.

Information Risk Management

Information risk management is the process of identifying and assessing information risks, and creating strategies to manage those risks. It’s a core component of the risk management framework because it helps organizations ensure that their systems are as secure as possible.

The risk management framework defines six phases: identification, assessment and analysis; control implementation; monitoring performance against controls; review/feedback on ongoing processes based on findings from reviews/feedback; revision or renewal of policies if necessary (a review cycle). The six phases are interconnected so that when one phase ends another begins (e.g., the assessment phase ends with an analysis). This continuous cycle must be maintained at all times since new threats emerge constantly while old ones tend to become less relevant over time unless they have been addressed earlier in time.- Information Risk Management Processes

Compliance and Regulatory Compliance

Compliance and Regulatory Compliance

Compliance is a legal requirement that requires organizations to meet the requirements of a law, regulation or standard. Compliance is about being in line with an accepted standard; it’s not necessarily about meeting all the requirements of an audit or regulator.

Asset Management

Asset management is the process of identifying, tracking and protecting the assets of an organization. It’s a critical component of IT security because it helps ensure that the right security controls are in place to protect those assets from unauthorized access or misuse.

The risk management framework includes six phases: threat assessment and risk analysis, incident response planning, policy enforcement, compliance monitoring/reporting and data protection. Each phase adds value to securing your corporate network by helping you identify potential risks before they can become problems for your business.

Baseline Security Controls

Baseline security controls are the minimum standards that should be in place on all systems. These controls include:

  • Security baselines – This is a list of basic security procedures that identify what needs to be done to meet a particular set of requirements or guidelines.
  • Controls – A control is a policy, procedure, standard or requirement that helps ensure the proper operation of your network and its resources so as not to violate any laws/regulations/policies (e.g., PCI DSS).

You can use your baseline security controls as an initial assessment tool for assessing risks within your organization and identifying areas where further attention may be required before proceeding with higher level risk management initiatives such as penetration testing or vulnerability scanning

Risk Assessment

Risk assessment is the process of identifying and evaluating threats to an organization’s assets and determining the potential impact of those threats. It is an ongoing process that involves identifying, assessing, prioritizing and developing strategies to mitigate risks.

Risk assessment should be conducted at all levels of risk management: strategic planning, tactical planning, operational planning, etc. The first step in any risk assessment should be to identify your current security posture—what do you know about your vulnerability posture? What are you doing right now to address vulnerabilities uncovered during a security review or audit (or other functions)?

Incident Response Plan

Incidents are an inevitable part of any organization’s business. As such, it’s important that you have a plan in place for how to respond to them. The Incident Response Plan (IRP) is the first step towards creating this plan and includes:

  • A description of what will happen during an incident response
  • How often you perform security assessments on your systems, networks, and applications
  • How well trained your team members are on the IRP

Each phase of the Risk Management Framework can be considered in its own right, but all six work together.

The risk management framework is a good way to think about security, as it consists of six phases. Each phase offers its own benefits and can be used in many different types of projects. However, all six phases work together within the overall framework.

The first step in implementing any new security policy is to identify risks and threats that may affect your organization’s operations. This may involve conducting an internal audit or performing a vulnerability assessment on systems at risk (e.g., vulnerable web applications). Once you’ve identified these threats, you need to determine how much risk each one poses—and what action needs to be taken if those risks become real threats against your company’s assets or reputation (e.g., shutting down production servers until fixes are applied).


The Risk Management Framework is a framework for managing security risk. It is an incremental approach that works at the granular level of each individual employee’s role in maintaining corporate networks and systems. This guide will help you understand how each phase adds value to ensuring that your organization’s networks are secure, compliant with regulations and industry best practices, and protected from cyberattacks.

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