Identifying, evaluating, treating and managing information security risks are key processes if businesses want to keep their information safe and secure. Whilst these processes are specified in the information security standard BS ISO/IEC 27001:2005, further guidance is required on how to manage these risks as well as to put them into context with other business risks.
BS 7799-3:2006 provides this guidance and covers:
- risk assessment
- risk treatment
- management decision making
- risk re-assessment
- monitoring and reviewing of risk profile
- information security risk in the context of corporate governance
- compliance with other risk based standards and regulations.
BS 7799-3:2006 gives guidance to support the requirements given in BS ISO/IEC 27001:2005 regarding all aspects of an information security management system (ISMS) risk management cycle. This includes assessing and evaluating the risks, implementing controls to treat the risks, monitoring and reviewing the risks, and maintaining and improving the system of risk controls.
The focus of this standard is effective information security through an ongoing programme of risk management activities. This focus is targeted at information security in the context of an organization’s business risks.
The guidance set out in BS 7799-3 is intended to be applicable to all organizations, regardless of their type, size and nature of business. It is intended for those business managers and their staff involved in ISMS risk management activities.
Terms and definitions
Information security risks in the organizational context
Risk treatment and management decision-making
Ongoing risk management activities
Annex A (informative) Examples of legal and regulatory compliance
Annex B (informative) Information security risks and organizational risks
Annex C (informative) Examples of assets, threats, vulnerabilities and risk assessment methods
Annex D (informative) Risk management tools
Annex E (informative) Relationship between BS ISO/IEC 27001:2005 and BS 7799-3:2006