What framework is commonly used for risk management?

The NIST Cybersecurity Framework is widely recognized for its structured approach to managing cybersecurity risk. It provides organizations with a flexible framework that includes guidelines, best practices, and standards to enhance their security posture against various threats. The framework emphasizes a risk-based approach, enabling organizations to identify, assess, and mitigate risks effectively while also considering their specific needs and circumstances.

By incorporating principles such as continuous monitoring, risk assessment, and tailored protective measures, the NIST Cybersecurity Framework facilitates improved communication regarding risk management practices among stakeholders. Its adaptability allows it to be implemented by organizations of all sizes and sectors, making it a preferred choice for aligning cybersecurity initiatives with business objectives.

Although other frameworks, such as ISO 27001, COBIT, and ITIL, each have valuable methodologies and principles for different aspects of information security and governance, the NIST Cybersecurity Framework is particularly noted for its comprehensive focus specifically on risk management in the context of cybersecurity.