Risk Management Strategy (PM-9) defines how an organization articulates risk appetite, tolerance, priorities, and decision rules so that security and privacy controls are selected and operated with intent. For exam readiness, understand that PM-9 sits above system-level decisions and provides the compass for categorization, tailoring, exception handling, and investment tradeoffs. A credible strategy describes what kinds of loss the organization is willing to accept, which scenarios are intolerable, and how competing objectives—cost, speed, reliability, compliance—are balanced. It specifies how risks are identified, analyzed, scored, and escalated; how residual risk is accepted and by whom; and how frequently assumptions are revisited. PM-9 links enterprise goals to control families by translating abstract posture into operational directives: patch fast for exploitable flaws, enforce strong identity at high-value boundaries, require encryption where data exposure would be material, and prove effectiveness through metrics. The result is consistency: programs stop arguing case-by-case and start executing within clear, documented guardrails that leadership owns.

Operationally, PM-9 becomes real through policies, heat maps, risk registers, thresholds, and governance rhythms that determine what happens when evidence changes. Triggers—new threats, architectural changes, supplier incidents, audit results—drive reassessment and reprioritization. Portfolio views compare systems by impact and exposure so resources go where they reduce the most risk per unit of effort. The strategy ties directly to monitoring and authorization: thresholds define when CA-7 telemetry forces deeper assessment, when CA-6 authorizations become conditional, and when CA-5 items must escalate. Evidence includes an approved strategy document, decision records, acceptance memos with revisit dates, and dashboards that show trend lines for loss events, near misses, control coverage, and remediation velocity. Metrics such as percentage of risk decisions made within policy windows, aging of high-risk items, variance between modeled and observed incident frequency, and budget allocation aligned to top risks reveal maturity. Common pitfalls include vague appetite statements, orphaned exceptions, and static strategies that ignore changing technology and business models. Mastery of PM-9 demonstrates leadership’s ability to steer security as a managed business function with transparent choices, measurable outcomes, and accountable ownership.
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