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While specific methods may vary, risk management processes generally include establishing context, conducting risk assessments, and managing risks. Risk management methodologies from standards such as ISO/IEC 27005, BS 7799, NIST SP 800-39, and Risk IT emphasize a structured approach to these processes. [1]
In 2003 FISMA Project, Now the Risk Management Project, launched and published requirements such as FIPS 199, FIPS 200, and NIST Special Publications 800–53, 800–59, and 800–6. Then NIST Special Publications 800–37, 800–39, 800–171, 800-53A.
It is a systematic, consequence-driven approach that is based upon industry standards such as ISA 62443-3-2, ISA TR84.00.09, ISO/IEC 27005:2018, ISO 31000:2009 and NIST Special Publication (SP) 800-39.
Special Publications (SP) aside, most of the informative references requires a paid membership or purchase to access their respective guides. The cost and complexity of the framework has resulted in bills from both houses of Congress that direct NIST to create Cybersecurity Framework guides that are more accessible to small and medium businesses.
NIST had an operating budget for fiscal year 2007 (October 1, 2006 – September 30, 2007) of about $843.3 million. NIST's 2009 budget was $992 million, and it also received $610 million as part of the American Recovery and Reinvestment Act. [18] NIST employs about 2,900 scientists, engineers, technicians, and support and administrative personnel.
The primary document outlining the RMF is NIST Special Publication 800-37. [1] [3] The RMF steps link to several other NIST standards and guidelines, including NIST Special Publication 800-53.
Many NIST publications define risk in IT context in different publications: FISMApedia [9] term [10] provide a list. Between them: According to NIST SP 800-30: [11] Risk is a function of the likelihood of a given threat-source’s exercising a particular potential vulnerability, and the resulting impact of that adverse event on the organization.
NIST Special Publication 800-53 is an information security standard that provides a catalog of privacy and security controls for information systems. Originally intended for U.S. federal agencies except those related to national security, since the 5th revision it is a standard for general usage.