Description
a. Develop a comprehensive strategy to manage: 1. Security risk to organizational operations and assets, individuals, other organizations, and the Nation associated with the operation and use of organizational systems; and 2. Privacy risk to individuals resulting from the authorized processing of personally identifiable information; b. Implement the risk management strategy consistently across the organization; and c. Review and update the risk management strategy [Assignment: organization-defined frequency] or as required, to address organizational changes.
Supplemental Guidance
An organization-wide risk management strategy includes an expression of the security and privacy risk tolerance for the organization, security and privacy risk mitigation strategies, acceptable risk assessment methodologies, a process for evaluating security and privacy risk across the organization with respect to the organization's risk tolerance, and approaches for monitoring risk over time. The senior accountable official for risk management (agency head or designated official) aligns information security management processes with strategic, operational, and budgetary planning processes.
Changes from Rev 4
Privacy risk added. Review and update frequency added as assignment parameter.