What is a NIST Risk Assessment? - FortifyData (2024)

Where to start? Both NIST SP 800-37 and NIST SP 800-53 are integral components of the broader NIST Cybersecurity Framework (CSF), you can reference a cyber security risk assessment checklist for the NIST CSF to get a sense of what will be incorporated in the assessment. However, they serve distinct purposes:

• NIST SP 800-37, Revision 2, Risk Management Framework for Information Systems and Organizations: A System Life Cycle Approach for Security and Privacy: This publication focuses on categorizing information systems and selecting security controls based on the assigned security category. It provides a methodology for prioritizing security efforts and selecting the most appropriate controls to mitigate identified risks.
• NIST SP 800-53 Revision 5, Security and Privacy Controls for Information Systems and Organizations: This publication offers a more in-depth catalog of security and privacy controls based on the impact level of the information system being assessed – low, moderate, or high impact level systems. NIST SP 800-53 is the foundation for US Federal assessments and the underlying framework for FISMA and FedRAMP.
• NIST SP 800-30, Guide for Conducting Risk Assessments: this publication provides a framework for conducting information security risk assessments. It outlines a standardized approach for organizations to identify, assess, and prioritize information security risks.

Additional Resources

Cyber Threat Assessments

What are the 5 Cs of Cybersecurity?

Top 10 Cyber Security Threats

What are the 8 main cyber security threats?

Cyber Security Risk Assessment Checklist

What tools are used for Risk Assessments?

What is NIST Cyber Risk Scoring Tool?

What is a cybersecurity Risk Assessment Tool?

A NIST risk assessment is a method for conducting information security risk assessments based on the National Institute of Standards and Technology (NIST) Special Publication (SP) 800-30. This publication outlines a comprehensive framework for managing information security risk, providing a standardized approach for organizations of all sizes. This goes beyond just a cyber security risk assessment checklist, but a comprehensive framework for conducting risk assessments.

There are several key benefits to leveraging a NIST risk assessment framework. Here are a few:

• Standardized Approach: NIST SP 800-30 offers a well-defined process for conducting risk assessments, ensuring consistency and facilitating communication between internal teams and external auditors.
• Improved Consistency: The standardized approach minimizes the risk of subjective bias or oversight that can occur with less structured assessments.
• Alignment with Regulations: Many industry regulations and compliance standards reference NIST frameworks, making NIST risk assessments a valuable tool for demonstrating adherence to these requirements.

• Publicly Available Resources: NIST offers a wealth of publicly available resources to support organizations in conducting NIST risk assessments, including guidance documents and sample assessment plans.

Conducting a NIST risk assessment involves a series of well-defined steps outlined in NIST SP 800-30 – Guide for Conducting Risk Assessments. Here’s an overview from NIST SP 800-30 of the key stages:

• Development of an information security architecture;
• Definition of interconnection requirements for information systems (including systems supporting mission/business processes and common infrastructure/support services);
• Design of security solutions for information systems and environments of operation including selection of security controls, information technology products, suppliers/supply chain, and contractors;
• Authorization (or denial of authorization) to operate information systems or to use security controls inherited by those systems (i.e., common controls);
• Modification of missions/business functions and/or mission/business processes permanently, or for a specific time frame (e.g., until a newly discovered threat or vulnerability is addressed, until a compensating control is replaced);
• Implementation of security solutions (e.g., whether specific information technology products or configurations for those products meet established requirements); and
• Operation and maintenance of security solutions (e.g., continuous monitoring strategies and programs, ongoing authorizations).