What is the first step in the Risk Management Framework?

The first step in the Risk Management Framework is categorization. This step involves identifying and categorizing the information systems based on the potential impact that a loss of confidentiality, integrity, or availability could have on the organization. By determining the system's categorization, organizations can tailor their security controls and management strategies accordingly.

Categorization helps to establish a foundation for the subsequent steps in the Risk Management Framework, as it informs how risks will be assessed, the level of effort needed for risk management, and the appropriate controls to implement. Understanding the criticality of the information system allows organizations to prioritize security efforts and resource allocation effectively, ensuring that the most important systems receive the necessary attention and protections to mitigate risks appropriately.