ISO/IEC 27005 Information Security Risk Management

What is ISO/IEC 27005?

ISO/IEC 27005 provides a risk management framework for organizations to manage information security risks. Specifically, it provides guidelines on identifying, analyzing, evaluating, treating, and monitoring information security risks. The standard supports the guidelines of ISO 31000 and is particularly helpful for organizations aiming to safeguard their information assets and achieve information security objectives. A risk management process based on ISO/IEC 27005 involves the establishment of an iterative risk assessment approach, implementation of risk treatment options, continual communication and consultation with interested parties, monitoring and review of the risk management process, and documentation of risk management processes and results.

ISO/IEC 27005 can be really helpful for organizations that seek to meet the requirements of ISO/IEC 27001 regarding risk management. By establishing a risk management process based on ISO/IEC 27005, organizations increase the effectiveness of their ISMS, address information security risks, and establish appropriate information security risk management practices.