Report on RMF for Cloud Ecosystem

In this assignment, you are required to write a report on the below:

Topic: Risk Management Framework (RMF) for Cloud Ecosystem.

In a Cloud Ecosystem, the complex relationships among cloud Actors, the Actors’ individual missions, business processes, and their supporting information systems require an integrated, ecosystem-wide risk management framework that addresses all cloud Actors’ needs. As with any information system, for a cloud-based information system, cloud Actors are responsible for evaluating their acceptable risk, which depends on the threshold set by their risk tolerance to the cloud Ecosystem-wide residual risk.

The risk-based approach of managing information systems is a holistic activity that needs to be fully integrated into every aspect of the organization, from planning to system development life cycle processes, to security controls allocation and continuous monitoring. Therefore, a Risk Management Framework (RMF) provides a disciplined and structured process that integrates information security and risk management activities into the system development life cycle.