NIST SP 800-30
NIST SP 800-30 is a Special Publication that provides guidance for conducting risk assessments of federal information systems and organizations. It amplifies the guidance provided in Special Publication 800-39. The purpose of NIST SP 800-30 is to translate cyber risk in a way that can be understood by the Board and CEO. It helps risk assessment teams analyze and report risks to company leaders.
Source: https://www.nist.gov/publications/guide-conducting-risk-assessments
What is NIST 800-30?
Special Publication 800-30 aims to offer guidance for performing risk assessments on federal information systems and organizations, building upon the recommendations in Special Publication 800-39. These risk assessments are conducted across various levels of the risk management hierarchy and form a crucial part of the overall risk management process. NIST 800-30 was originally designed for federal agencies, but it is now widely used by private companies, contractors, and state governments. They equip senior leaders and executives with the necessary information to make informed decisions and take appropriate actions in response to identified risks.
Risk Assessment Methodology
Prepare for Risk Assessment
This phase involves scoping of the risk assessment, identifying restraints associated with the assessment, and identifying the information sources to use for the risk assessment.
Conduct Risk Assessment
This phase includes the steps below:
- Determine how and where sensitive data is created, transmitted, and stored
- Identify the sources of threat, which is also known as Threat Modelling
- Determine Vulnerabilities and Predisposing Conditions associated with threats corresponding to the assets of the organization
- Determine the likelihood of the occurrence of the threats and the magnitude of the impact
- Finally determine the actual level of risk a threat poses based on the likelihood of it occurring and the depth of impact
Documentation and Reporting
All findings from the risk assessment should be documented in detail, including levels of identified risks, likelihood of occurrence, potential impacts, existing controls, and recommended mitigation strategies.
Communicate The Results Of The Risk Assessment
Decision-makers need risk assessment information to inform their security investment decisions. This information can be presented in various formats, such as interactive dashboards, briefings, or risk assessment reports. The presentation style can be formal or informal, depending on the company's environment.
Who Needs To Be Compliant With
NIST 800-30?
Who Needs To Be Compliant With NIST 800-30?
NIST 800-30 was originally designed for federal agencies, but it is now widely used by private companies, contractors, and state governments. It helps organizations meet regulatory requirements, enhance their security postures, and reduce potential legal and financial liabilities related to cybersecurity breaches.
All findings from the risk assessment should be documented in detail, including levels of identified risks, likelihood of occurrence, potential impacts, existing controls, and recommended mitigation strategies.
Contractors and third-party vendors working with federal agencies, especially those handling federal information or operating on government systems.
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