Figure 3-2 illustrates the interaction that each of the components of the risk management
process has with each other. The risk framework helps to inform and drive
each component of the risk management process assessment, monitoring, and
response. By evaluating sources of threat information, either from open source
information or through classified briefings (depending on the organization or environment),
the risk management process is framed and acceptable values are developed
for risk assumptions, risk constraints, risk tolerances, and risk priorities. The
framing process also includes external risk relationships with other organizations
that will accept the transfer of risk. For example, insurance carriers and stakeholders
may be impacted by the organization’s risk management process, as may suppliers,
customers, served populations, mission/business partners, and service providers.
These stakeholders can be either providers of risk management processes or consumers
of the organization’s protections from risk. Risk framing results in a critical
output for the organization—the risk management strategy—which, like the risk
assessment, is an input for the risk response component.
Figure 3-2 illustrates the interaction that each of the components of the risk managementprocess has with each other. The risk framework helps to inform and driveeach component of the risk management process assessment, monitoring, andresponse. By evaluating sources of threat information, either from open sourceinformation or through classified briefings (depending on the organization or environment),the risk management process is framed and acceptable values are developedfor risk assumptions, risk constraints, risk tolerances, and risk priorities. Theframing process also includes external risk relationships with other organizationsthat will accept the transfer of risk. For example, insurance carriers and stakeholdersmay be impacted by the organization’s risk management process, as may suppliers,customers, served populations, mission/business partners, and service providers.These stakeholders can be either providers of risk management processes or consumersof the organization’s protections from risk. Risk framing results in a criticaloutput for the organization—the risk management strategy—which, like the riskassessment, is an input for the risk response component.
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Figure 3-2 illustrates the interaction that each of the components of the risk management
process has with each other. The risk framework helps to inform and drive
each component of the risk management process assessment, monitoring, and
response. By evaluating sources of threat information, either from open source
information or through classified briefings (depending on the organization or environment),
the risk management process is framed and acceptable values are developed
for risk assumptions, risk constraints, risk tolerances, and risk priorities. The
framing process also includes external risk relationships with other organizations
that will accept the transfer of risk. For example, insurance carriers and stakeholders
may be impacted by the organization’s risk management process, as may suppliers,
customers, served populations, mission/business partners, and service providers.
These stakeholders can be either providers of risk management processes or consumers
of the organization’s protections from risk. Risk framing results in a critical
output for the organization—the risk management strategy—which, like the risk
assessment, is an input for the risk response component.
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