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This is just a simple guide. Just summing up each category in just a few sentences.
If you're looking for the more detailed and comprehensive breakdown by NIST, it is here.
If you know risk management, your destiny to become a CISSP will be achieved. With a good risk management framework, your senior management can have a birds-eye view of risks throughout the entire organization, and will be able to choose which ones requires the most or least attention.
With risk management, you can also prepare for an unexpected negative event in a way that will lessen the overall, short-term, and long-term impact.
Risk management allows you to better protect your assets, tangible or intangible.
Improve the way you deploy and utilize your resources in the organization.
It helps to also maintain a nice clean reputation, or as close to it as you can.
It tries to curb third-party or supply chain risk as well.
At a legal level, risk management will always take into consideration the law, compliance, and regulations, this should actually be one of the first things on the list.
And at another legal level, think of risk management as the way to managing trademarks, copyrights, patents, and other intellectual property protections.
The Study Notes and Theory Member's Portal has a full video breakdown along with other important CISSP process explanations here: https://www.studynotesandtheory.com/signup