Module 2: Risk Management Lifecycle

Question 1

What is Risk Framing in cybersecurity?

Answer 1

Risk Framing refers to the set of assumptions, constraints, risk tolerances, and priorities/trade-offs that shape an organization’s approach for managing risk.

Question 2

What does ‘Assessing Risk’ involve in the context of cybersecurity?

Answer 2

Assessing Risk involves identifying, prioritizing, and estimating the risks to corporate assets.

Question 3

What does ‘Responding to Risk’ mean?

Answer 3

Responding to Risk refers to the organization’s determination of the appropriate approach to address an identified risk.

Question 4

What does ‘Monitoring Risk’ involve in cybersecurity?

Answer 4

Monitoring Risk involves monitoring the effectiveness of implemented risk controls and compliance-focused measures.

Question 5

What is RMF (Risk Management Framework)?

Answer 5

RMF is a structured approach used to oversee and manage risk for an enterprise.