The latest version of the Information Security Management System is a risk-based system that takes into account the context of the organization with respect to ISMS. It requires the organization to identify its internal issues, external issues, and the requirements of interested parties. These three items lead to the risks (uncertainties) and opportunities (a desirable twist of uncertainties into a favorable situation) in the organization's ISMS.
These risks need to be assessed based on a predefined criterion (e.g., low risk, medium risk, high risk) and plans for actions on the risks and opportunities based on the criterion through appropriate controls. There are predefined controls in Annex A after the ten clauses of the standard, which cover almost all types of InfoSec uncertainties. The organization can also choose to define and implement additional controls (though this would rarely be required). Like any other management system, this standard also emphasizes a Plan-Do-Check-Act approach.
These risks need to be assessed based on a predefined criterion (e.g., low risk, medium risk, high risk) and plans for actions on the risks and opportunities based on the criterion through appropriate controls. There are predefined controls in Annex A after the ten clauses of the standard, which cover almost all types of InfoSec uncertainties. The organization can also choose to define and implement additional controls (though this would rarely be required). Like any other management system, this standard also emphasizes a Plan-Do-Check-Act approach.