Which document provides an overview of risk management steps for federal agencies?

Which document provides an overview of risk management steps for federal agencies?

• A. The Federal Information Security Modernization Act
• B. The National Institute of Standards and Technology's Risk Management Framework
• C. The Office of Management and Budget guidelines
• D. The Cybersecurity Framework

Answer: (B)

The National Institute of Standards and Technology's Risk Management Framework is the document that provides a comprehensive overview of the risk management steps specifically tailored for federal agencies. This framework outlines a structured process that enables agencies to identify, assess, and manage risks associated with their information systems. The Risk Management Framework establishes a systematic approach that helps integrate security and risk management activities into the system development lifecycle. It emphasizes the importance of continuous monitoring and evaluation, allowing agencies to adapt to evolving threats and maintain compliance with federal standards. This framework is particularly vital for federal agencies because it ensures that they can effectively protect their information and support their missions in a secure manner. While the other documents mentioned play significant roles in federal security and risk management, they do not specifically outline the step-by-step risk management process that the NIST framework provides. For instance, the Federal Information Security Modernization Act defines overarching security requirements but does not detail specific risk management procedures. The Office of Management and Budget guidelines may offer policy guidance for federal agencies but lack the structured process found in the Risk Management Framework. The Cybersecurity Framework, while useful for guiding cybersecurity practices, is broader and not exclusively focused on the federal risk management steps, making the NIST framework the most appropriate choice for this question.

The National Institute of Standards and Technology's Risk Management Framework is the document that provides a comprehensive overview of the risk management steps specifically tailored for federal agencies. This framework outlines a structured process that enables agencies to identify, assess, and manage risks associated with their information systems.

The Risk Management Framework establishes a systematic approach that helps integrate security and risk management activities into the system development lifecycle. It emphasizes the importance of continuous monitoring and evaluation, allowing agencies to adapt to evolving threats and maintain compliance with federal standards. This framework is particularly vital for federal agencies because it ensures that they can effectively protect their information and support their missions in a secure manner.

While the other documents mentioned play significant roles in federal security and risk management, they do not specifically outline the step-by-step risk management process that the NIST framework provides. For instance, the Federal Information Security Modernization Act defines overarching security requirements but does not detail specific risk management procedures. The Office of Management and Budget guidelines may offer policy guidance for federal agencies but lack the structured process found in the Risk Management Framework. The Cybersecurity Framework, while useful for guiding cybersecurity practices, is broader and not exclusively focused on the federal risk management steps, making the NIST framework the most appropriate choice for this question.