In today’s highly connected world, organizations all face more diverse, sophisticated threats—cyber, physical, technological, or natural—that have cross-sector impacts. The evolving risk landscape necessitates an evolved response. Risk Management is the process of identifying, analyzing, assessing, and communicating risk and accepting, avoiding, transferring, or mitigating it to an acceptable level considering associated costs and benefits of any actions taken. Effective risk management improves the quality of decision making. While risk cannot always be eliminated, actions can be taken to mitigate risk.Since the nation’s critical infrastructure is largely owned and operated by the private sector, managing risk is shared priority., Risk Management is the process of identifying, analyzing, assessing, and communicating risk and accepting, avoiding, transferring, or mitigating it to an acceptable level considering associated costs and benefits of any actions taken. Effective risk management improves the quality of decision making., • Consolidates and revises the Risk Management Process into a five-step methodology that better aligns with risk management practices and strategies and ensures a comprehensive approach to meeting federal facility security needs. • Updates Facility Security Level (FSL) Matrix values to match other values within the risk management process..