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This video tutorial provides an introduction to the risk management framework, focusing on key components such as laws and regulations, NIST special publication 800-53, defined roles and responsibilities, and managing information security risk. Risk management is a collaborative process that involves the best collective judgment of people in an organization responsible for strategic planning, oversight, and daily operations. Strategic risk considers risks to the overall organization, while mission or business risk provides direction to risk at the tactical or information systems level. Implementing necessary and sufficient risk response measures is crucial to protecting the missions and business functions of the organization.