Based on NIST SP 800-39, we identify four distinct steps for implementing risk management in your organisation:
Frame Risk
Establish the context, goals, and strategies for managing risks.
Assess Risk
Identify and analyse risks to understand potential impacts.
Respond to Risk
Develop and implement strategies to address identified risks.
Monitor Risk
Continuously track and review risks to ensure the effectiveness of your strategy.
(Source: NIST SP 800-39)