ISO 27001 Risk Management

ISO 27001 risk management involves a systematic approach that aligns with the Information Security Management System (ISMS). The steps include:

1. Establish Context: Define the scope, objectives, and criteria for risk assessment, including the assets, threats, and vulnerabilities to be considered.

2. Risk Identification: Identify potential security risks to information assets, including both internal and external threats.

3. Risk Analysis and Evaluation: Assess the likelihood and impact of each identified risk. Prioritize based on risk level, which is determined by combining these factors.

4. Risk Treatment: Decide on actions to mitigate, transfer, avoid, or accept each risk. Implement controls as outlined in ISO 27001 Annex A.

5. Risk Acceptance: Decide on acceptable levels of risk and ensure that remaining risks are aligned with business objectives.

6. Documentation and Communication: Document all findings, the risk assessment process, and the treatment plans. Communicate the results to relevant stakeholders.

7. Continuous Monitoring and Review: Regularly monitor risks, review the effectiveness of controls, and update risk assessments as part of ongoing ISMS maintenance.