IT Risk Management

Information risk management is the act of aligning exposure to risk and capability of managing it with the risk tolerance of the data owner. It is the primary means of decision support for information technology resources designed to protect the confidentiality, integrity, and availability of information assets. Ensures that risk of all types are identified, understood, communicated and either accepted, remediated, transferred, or avoided. Risk Management can look to the output of Compliance Management activities to assist the organization in evaluating the overall security posture and if it is in alignment the defined risk objectives.

Cloud Controls Matrix (CCM) Data

RI-03 | Risk Management | Mitigation / Acceptance

Control Specification +-

Risks shall be mitigated to an acceptable level. Acceptance levels based on risk criteria shall be established and documented in accordance with reasonable resolution time frames and executive approval.

Architectural Relevance +-

Physical	Network	Compute	App	Data
True	True	True	True	True

Corp Gov Relevance +-

Corp Gov Relevance
True

Cloud Service Delivery Model Applicability +-

SaaS	PaaS	IaaS
True	True	True

Supplier Relationship +-

Service Provider	Tenant / Consumer
True	True

Scope Applicability +-

COBIT 4.1	HIPAA / HITECH Act	ISO/IEC 27001-2005
PO 9.5	45 CFR 164.308 (a)(1)(ii)(B)	Clause 4.2.1 c) through g) Clause 4.2.2 b) Clause 4.3.1 Clause 5.1 f) Clause 7.3 A.6.2.1 A.12.5.2 A.12.6.1 A.15.1.1 A.15.2.1 A.15.2.2

NIST SP800-53 R3	FedRAMP (Final 2012) Low Impact	FedRAMP (Final 2012) Moderate Impact	PCI DSS v2.0
CA-5 CM-4	NIST SP 800-53 R3 CA-5 NIST SP 800-53 R3 CP-1 NIST SP 800-53 R3 RA-1	NIST SP 800-53 R3 CA-5 NIST SP 800-53 R3 CP-1 NIST SP 800-53 R3 RA-1

BITS Shared Assessments SIG v6.0	BITS Shared Assessments SIG v5.0	GAPP (Aug 2009)
I.3, L.9, L.10	I.4 L.2

Jericho Forum	NERC CIP
	CIP-009-3 - R1.2

Consensus Assessments Initiative Questionnaire (CAIQ) Data

Risk Management (RI) | ID #RI-03.1

Are risks mitigated to acceptable levels based on company-established criteria in accordance with reasonable resolution time frames?

Compliance Mapping +-

COBIT	HIPAA	ISO27001	SP800_53
COBIT 4.1 PO 9.5	45 CFR 164.308 (a)(1)(ii)(B)	Clause 4.2.1 c) through g) Clause 4.2.2 b) Clause 4.3.1 Clause 5.1 f) Clause 7.3 A.6.2.1 A.12.5.2 A.12.6.1 A.15.1.1 A.15.2.1 A.15.2.2	NIST SP800-53 R3 CA-5 NIST SP800-53 R3 CM-4

FedRAMP	PCI_DSS	BITS	GAPP
NIST SP800-53 R3 CA-5 NIST SP800-53 R3 CM-4		AUP v5.0I.4 AUP v5.0 L.2 SIG v6.0: I.3, L.9, L.10

Model Applicability +-

SaaS	PaaS	IaaS
True	True	True

Scope Applicability +-

SP	CUST
True	True