Capability, Manage and Assess Risk

{
  "id": "MLC-T-CYB-000551",
  "term": "Capability, Manage and Assess Risk",
  "field": "Cybersecurity",
  "definition": "1. The program and supporting processes to manage information security risk to organizational operations (including mission, functions, image, reputation), organizational assets, individuals, other organizations, and the Nation, and includes: (i) establishing the context for risk-related activities; (ii) assessing risk; (iii) responding to risk once determined; and (iv) monitoring risk over time.\n\n2. The process of managing risks to agency operations (including mission, functions, image, or reputation), agency assets, or individuals resulting from the operation of an information system. It includes risk assessment; cost-benefit analysis; the selection, implementation, and assessment of security controls; and the formal authorization to operate the system. The process considers effectiveness, efficiency, and constraints due to laws, directives, policies, or regulations.\n\n3. the on-going process of assessing the risk to IT resources andinformation, as part of a risk-based approach used to determine adequate security for a system, by analyzing the threats and vulnerabilities and selecting appropriate cost-effective controls to achieve and maintain an acceptable level of risk.\n\n4. The program and supporting processes to manage information security risk to organizational operations (including mission, functions, image, reputation), organizational assets, individuals, other organizations, and includes: (i) establishing the context for risk-related activities; (ii) assessing risk; (iii) responding to risk once determined; and (iv) monitoring risk over time.\n\n5. The process of managing risks to organizational operations (including mission, functions, image, reputation), organizational assets, individuals, other organizations, and the Nation, resulting from the operation of an information system, and includes: (i) the conduct of a risk assessment; (ii) the implementation of a risk mitigation strategy; and (iii) employment of techniques and procedures for the continuous monitoring of the security state of the information system.\n\n6. The process of managing risks to organizational operations (including mission, functions, image, reputation), organizational assets, individuals, other organizations, and the Nation, resulting from the operation of an information system, and includes: (i) the conduct of a risk assessment; (ii) the implementation of a risk mitigation strategy; and (iii) employment of techniques and procedures for the continuous monitoring of the security and privacy state of the information system.\n\n7. The total process of identifying, controlling, and eliminating or minimizing uncertain events that may adversely affect system resources. It includes risk analysis, cost benefit analysis, selection, implementation and test, security evaluation of safeguards, and overall security review.\n\n8. An ISCM capability that focuses on reducing the successful exploits of the other non-meta capabilities that occur because the risk management process fails to correctly identify and prioritize actions and investments needed to lower the risk profile.\n\n9. See Capability, Manage and Assess Risk.\n\n10. The program and supporting processes to manage information security risk to organizational operations (including mission, functions, image, reputation), organizational assets, individuals, other organizations, and the Nation, and includes:\n(i) establishing the context for risk-related activities;\n(ii) assessing risk;\n(iii) responding to risk once determined; and\n(iv) monitoring risk over time.\n\n11. The process of identifying, assessing, and responding to risk.\n\n12. The program and supporting processes to manage information security risk to organizational operations (including mission, functions, image, reputation), organizational assets, individuals, other organizations, and the Nation and includes (i) establishing the context for risk-related activities, (ii) assessing risk, (iii) responding to risk once determined, and (iv) monitoring risk over time.",
  "abbreviation": "Risk Management",
  "synonyms": [
    "Risk (ISCM Capability)"
  ],
  "references": [
    "NIST SP 800-12 Rev. 1 from NIST SP 800-39; NIST SP 800-128 from NIST SP 800-39; NIST SP 800-137 from FIPS 200 (Adapted); NIST SP 800-161 [Superseded] from CNSSI 4009 (Adapted); NIST SP 800-30 Rev. 1 from NIST SP 800-39, CNSSI 4009 (Adapted); NIST SP 800-39 from CNSSI 4009 (Adapted); NIST SP 800-53 Rev. 4 [Superseded] from CNSSI 4009 (Adapted); NISTIR 7621 Rev. 1 from NIST SP 800-53 Rev. 4",
    "NIST SP 800-18 Rev. 1 [Superseded] from NIST SP 800-30; NIST SP 800-34 Rev. 1 from NIST SP 800-53",
    "NIST SP 800-16",
    "NIST SP 800-63-3 [Superseded]",
    "NIST SP 800-37 Rev. 1 [Superseded] from FIPS 200 (Adapted); NIST SP 800-82 Rev. 2 [Superseded] from FIPS 200 (Adapted)",
    "NIST SP 800-53A Rev. 4 [Superseded] from CNSSI 4009 (Adapted)",
    "NISTIR 4734",
    "NISTIR 8011 Vol. 1",
    "NISTIR 8011 Vol. 1; NISTIR 8011 Vol. 1",
    "NISTIR 8170 from CNSSI 4009 (adapted)",
    "NIST Cybersecurity Framework Version 1.1; NIST Privacy Framework Version 1.0",
    "NISTIR 8323 [Superseded] from NIST SP 800-39",
    "NIST CSRC Glossary"
  ],
  "url": "https://mlchart.com/terminology/cybersecurity/capability-manage-and-assess-risk/"
}