Risk Management Program Development: This control requires organizations to develop a comprehensive risk management program that outlines the organization??s risk management strategy, processes, and procedures. This includes defining roles and responsibilities, identifying and evaluating risks, and developing plans to mitigate those risks.
Performing Risk Assessments: This control requires organizations to conduct risk assessments to identify and assess potential risks to the organization??s information assets. This includes assessing the potential impact of the risks, determining the likelihood of the risks occurring, and evaluating the effectiveness of existing risk mitigation measures.
Risk Mitigation: This control requires organizations to develop and implement appropriate risk mitigation measures to reduce the likelihood and impact of identified risks. This includes developing policies and procedures to protect information assets, implementing security controls, and conducting regular security reviews.
Risk Evaluation: This control requires organizations to regularly evaluate the effectiveness of the risk management program and risk mitigation measures. This includes conducting periodic risk assessments, evaluating the effectiveness of existing security controls, and implementing new security controls as needed.