Which framework integrates risk management into an organization’s governance processes?

The NIST Risk Management Framework is a comprehensive approach designed to integrate risk management into an organization’s governance processes. This framework provides a structured process that helps organizations to identify, assess, and manage risks related to their information systems. Specifically, it facilitates the incorporation of risk management into the organization's overall governance and decision-making processes, ensuring that risk considerations are aligned with business objectives.

NIST emphasizes the importance of continuous monitoring and improvement in risk management, promoting a cyclical approach that aligns with governance requirements. By utilizing this framework, organizations can ensure that they maintain compliance with relevant policies, standards, and regulations while also addressing the risks associated with their information assets.

Other frameworks have their specific focuses, such as COBIT, which is more centered on IT governance and alignment with business goals, and ITIL, which emphasizes service management and IT service delivery. ISO 27001 is a standard focused on establishing, implementing, and maintaining an information security management system (ISMS), but it does not inherently integrate risk management into governance processes in the same structured way that the NIST Risk Management Framework does. Therefore, the NIST Risk Management Framework stands out as the key option for this context, emphasizing the integration of risk management into governance practices.