What are the key steps in the Risk Management Framework?

What are the key steps in the Risk Management Framework?

• A. Identification, selection, implementation, evaluation, authorization, and monitoring
• B. Categorization, selection, implementation, assessment, authorization, and monitoring
• C. Planning, execution, reporting, follow-up, and monitoring
• D. Analysis, formulation, execution, evaluation, and correction

Answer: (B)

The correct answer outlines the Risk Management Framework (RMF) as it specifically includes steps that align with the necessary processes for effectively managing risks within DoD security programs. The set of steps starts with categorization, which involves determining the level of impact a system could have on organizational operations and assets, individuals, or the nation if compromised. Following this, selection pertains to identifying appropriate security controls based on the categorized risk levels. This ensures that the selected controls adequately mitigate the identified risks while supporting the organization’s mission. Implementation is the actual application of these security controls and measures to ensure they are operationally effective. After implementation, the assessment phase is crucial for evaluating the effectiveness of the controls in place, which helps identify any gaps and informs necessary adjustments. Authorization follows, where a senior official reviews the assessment results and decides if the risk is acceptable, allowing the system to operate under clearly understood and agreed-upon risks. Lastly, monitoring involves continuous oversight of the controls and ongoing assessments to ensure their effectiveness over time, adapting as necessary to changes in the threat environment. Each of these steps contributes to creating a comprehensive and adaptable risk management approach essential for DoD security, ensuring that the risks are systematically and thoroughly managed throughout the system lifecycle.

The correct answer outlines the Risk Management Framework (RMF) as it specifically includes steps that align with the necessary processes for effectively managing risks within DoD security programs. The set of steps starts with categorization, which involves determining the level of impact a system could have on organizational operations and assets, individuals, or the nation if compromised.

Following this, selection pertains to identifying appropriate security controls based on the categorized risk levels. This ensures that the selected controls adequately mitigate the identified risks while supporting the organization’s mission.

Implementation is the actual application of these security controls and measures to ensure they are operationally effective. After implementation, the assessment phase is crucial for evaluating the effectiveness of the controls in place, which helps identify any gaps and informs necessary adjustments.

Authorization follows, where a senior official reviews the assessment results and decides if the risk is acceptable, allowing the system to operate under clearly understood and agreed-upon risks. Lastly, monitoring involves continuous oversight of the controls and ongoing assessments to ensure their effectiveness over time, adapting as necessary to changes in the threat environment.

Each of these steps contributes to creating a comprehensive and adaptable risk management approach essential for DoD security, ensuring that the risks are systematically and thoroughly managed throughout the system lifecycle.