What is the first step in the Risk Management Framework?

The first step in the Risk Management Framework is the categorization of information systems. This step is crucial because it establishes the level of impact that a potential security breach would have on an organization's operations, assets, or individuals. By categorizing the information systems, you can determine the necessary security controls and management strategies that need to be implemented to mitigate those risks effectively.

This initial categorization ensures that appropriate risk management measures are aligned with the specific needs and vulnerabilities of the information system. It involves identifying the types of information processed, stored, or transmitted, and assessing the potential consequences of various threats. This foundational step is essential as it sets the stage for subsequent actions such as implementing security controls, conducting risk assessments, and ultimately seeking authorization for the information system's operation within secure parameters.