This paper examines how organizations can plan, implement, and manage risk using the six-step Risk Management Framework (RMF) as required by the E-Government Act. It walks through each step in sequence: categorizing information systems, selecting appropriate baseline security controls, implementing those controls via checklists, assessing control effectiveness, authorizing system operations, and conducting continuous monitoring. Drawing on sources including Gantz and Philpott's work on FISMA and federal cybersecurity, the paper argues that a structured RMF approach provides the flexibility and consistency needed to reduce risk to acceptable levels while protecting organizational assets, operations, and personnel.
An organization's risk management framework offers a structured process to help the company identify, assess, and take steps to reduce risks to a reasonable level. The E-Government Act requires organizations to protect their information technology and information systems that support their assets and operations (Jain & Zhang, 2012). This paper examines how an organization will plan, implement, and manage its risk management steps under the Risk Management Framework, which comprises six key steps.
The Risk Management Framework (RMF) structures the process of securing information systems into six sequential steps. Each step builds on the previous one, guiding organizations from initial categorization through continuous monitoring.
To implement the first step, the organization will need to categorize its information systems, as well as the information being stored, processed, and transmitted by those systems. This will be based on the possible effect to the company if events occur that put the information and the system at risk. The organization will assign a security effect value — high, low, or moderate — for the security objectives of integrity, availability, and confidentiality (Bowden & Martin, 2011). This will relate to the information systems and information the company requires for achieving its mission, fulfilling its legal responsibilities, maintaining its daily functions, and protecting its individuals and assets.
The categorization of security standards for information systems and information will provide a common understanding and framework for documenting the possible effect on individuals or organizations in the event of a security breach. The organization's information system and information categorization will help the company identify the security category of each system. The categorization process will likewise promote consistent reporting and effective management of information systems (Jain & Zhang, 2012).
In implementing the second step, the organization will identify an appropriate class of security controls for its information system after it has determined its security categorizations. The E-Government Act specifies that companies must meet minimum security requirements by choosing an appropriately tailored set of baseline security controls. This selection will be based on assessing risks and local conditions such as the company's security requirements, cost-benefit analysis, threat information, and special circumstances. In a move to exceed minimum security requirements, the company will select appropriate security controls (Jain & Zhang, 2012). This will help the company protect its information systems in accordance with its business requirements and mission. The company will determine an initial set of security controls based on the impact analysis conducted previously, and will supplement and tailor the baseline security control selections based on its ongoing assessment of risks.
"Steps three and four: checklists and control assessment"
"Steps five and six: authorizing operations and ongoing monitoring"
Bowden, A. R., & Martin, J. H. (2011). Triple bottom line risk management: Enhancing profit, environmental performance, and community benefits. John Wiley & Sons.
Jain, L. C., & Zhang, G. (2012). Handbook on decision making: Vol. 2: Risk management in decision making. Springer.
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