What is the NIST Cyber Security Framework? The Ultimate Guide

In an era defined by digital transformation and hyper-connectivity, the significance of cybersecurity cannot be overstated. The rapid proliferation of technology and the increasing reliance on digital platforms have ushered in unprecedented opportunities, but they have also opened the door to a wave of cyber threats that threaten individuals, organisations, and nations alike.

In this digital age, where data is the lifeblood of businesses, and personal information is shared and stored online, the stakes have never been higher. Cybercriminals, hacktivists, state-sponsored actors, and even rogue employees are constantly probing for vulnerabilities in our interconnected world. These threats come in various forms, from ransomware attacks crippling critical infrastructure to phishing schemes aimed at stealing sensitive information.

In the face of these growing cyber threats, a structured and systematic approach to cybersecurity is no longer optional but imperative. Organisations of all sizes must be proactive in their efforts to safeguard their digital assets and protect the trust of their customers, clients, and stakeholders. This is where cybersecurity frameworks, such as the NIST Cybersecurity Framework, play a pivotal role.

In the following sections, we’ll delve into the NIST Cybersecurity Framework, exploring its purpose, components, and implementation strategies. This ultimate guide will equip you with the knowledge and tools necessary to navigate the complex landscape of cybersecurity and fortify your defenses against the ever-evolving threat landscape.

A cybersecurity framework is a structured approach or set of guidelines that helps organisations systematically manage and enhance their cybersecurity posture. These frameworks are essential because they provide a well-defined roadmap for addressing cybersecurity risks and establishing robust security practices. They serve as blueprints, helping organisations identify, protect, detect, respond to, and recover from cybersecurity threats and incidents.

In today’s interconnected world, where digital assets, sensitive information, and critical systems are constantly under threat, having a cybersecurity framework in place is crucial. It ensures that organisations take a proactive stance in safeguarding their digital assets and sensitive data, while also enabling them to adapt to the evolving threat landscape.

Cybersecurity frameworks play several pivotal roles in securing organisations:

• Risk Management: They provide a structured way to identify and assess cybersecurity risks, allowing organisations to prioritize their security efforts based on potential impacts and likelihood.
• Compliance: Many industries and sectors have regulatory requirements for cybersecurity. Frameworks help organisations comply with these regulations, reducing legal and financial risks.
• Consistency: They promote consistency in security practices across an organization, ensuring that everyone follows established guidelines and best practices.
• Communication: Frameworks enable organisations to communicate their cybersecurity efforts and achievements effectively to stakeholders, including customers, partners, and regulators.
• Continuous Improvement: They support a culture of continuous improvement by providing a framework for evaluating and enhancing cybersecurity measures as new threats emerge.

The National Institute of Standards and Technology (NIST) is a renowned agency of the U.S. Department of Commerce, dedicated to developing and promoting standards and best practices across various fields, including cybersecurity. NIST is widely recognized as a reputable source for cybersecurity guidance and is known for its meticulous research, comprehensive publications, and authoritative cybersecurity frameworks and standards.

NIST’s involvement in cybersecurity extends to the creation of the NIST Cybersecurity Framework, which has gained global recognition for its effectiveness in helping organisations manage and improve their cybersecurity posture. The NIST Cybersecurity Framework is celebrated for its flexibility, adaptability, and alignment with industry best practices, making it a valuable resource for organisations looking to fortify their defenses against cyber threats.

In the following sections, we will delve deeper into the NIST Cybersecurity Framework, exploring its core components and providing insights into its practical implementation for enhanced cybersecurity.

To truly understand the NIST Cybersecurity Framework, it’s essential to appreciate the historical context and the pivotal role that the National Institute of Standards and Technology (NIST) has played in shaping cybersecurity practices.

NIST, founded in 1901, has a rich history of developing and promoting standards and guidelines across various fields, including technology and cybersecurity. Its involvement in cybersecurity began in earnest in response to the growing importance of information technology in the late 20th century. NIST’s role evolved as it started working on standards and best practices to secure digital systems, networks, and critical infrastructure.

Over the years, NIST has become a trusted authority in cybersecurity, collaborating with industry experts, government agencies, and international partners to develop comprehensive guidelines, publications, and frameworks that help organisations mitigate cybersecurity risks. NIST’s reputation for rigor and impartiality has made it a go-to resource for organisations seeking effective cybersecurity solutions.

The NIST Cybersecurity Framework was introduced in response to the increasing frequency and sophistication of cyber threats, emphasizing the need for a standardized approach to cybersecurity risk management. Its primary purpose is to guide organisations in assessing and enhancing their cybersecurity posture systematically.

The key objectives of the NIST Cybersecurity Framework include:

• Risk Management: Helping organisations identify, prioritize, and mitigate cybersecurity risks based on their unique business needs and risk tolerance.
• Standardisation: Providing a common language and set of standards for organisations to communicate about and benchmark their cybersecurity efforts.
• Flexibility: Offering a flexible framework that can be tailored to the specific needs and requirements of different organisations , regardless of their size, sector, or industry.
• Continuous Improvement: Promoting a culture of ongoing cybersecurity improvement by facilitating the assessment of current practices and the implementation of necessary changes.

One of the standout features of the NIST Cybersecurity Framework is its remarkable flexibility and adaptability. It recognizes that there is no one-size-fits-all approach to cybersecurity, as organisations vary greatly in terms of size, industry, and cybersecurity maturity.

The framework provides a high-level structure and a set of best practices organized around five core functions (Identify, Protect, Detect, Respond, and Recover) and a series of categories and subcategories. However, it doesn’t prescribe specific technologies or solutions. Instead, it empowers organisations to customize their cybersecurity strategies based on their unique circumstances.

Whether you’re a small business, a multinational corporation, a government agency, or a nonprofit organisation, the NIST Cybersecurity Framework can be tailored to suit your needs. It accommodates varying risk appetites, compliance requirements, and resource constraints, making it a versatile tool for organisations of all types.

In the following sections, we will explore these core functions in more detail and provide guidance on how to apply the framework to enhance cybersecurity within your organisation.

The NIST Cybersecurity Framework is structured around five core functions, each playing a critical role in managing cybersecurity risks. Let’s delve into these core functions and understand their significance:

• Significance: The “Identify” function involves understanding and cataloging an organisation’s assets, assessing vulnerabilities, and recognizing potential threats. It lays the foundation for effective risk management by helping organisations understand what they need to protect and what threats they face.
• Real-world Example: An e-commerce company conducts a thorough inventory of its digital assets, including customer data, payment systems, and web servers. They identify vulnerabilities in their web application and recognize the threat of SQL injection attacks, helping them prioritize security measures.

• Significance: The “Protect” function focuses on implementing safeguards to prevent or mitigate cybersecurity threats. It involves establishing security policies, access controls, encryption, and security awareness training to shield critical assets from potential attacks.
• Real-world Example: A healthcare organisation implements encryption for patient records to protect sensitive health information. They also deploy firewalls and intrusion detection systems to defend against unauthorized access and cyberattacks.

• Significance: “Detect” emphasizes the need to promptly identify cybersecurity incidents when they occur. This function involves implementing monitoring systems, intrusion detection tools, and security event management to detect anomalies and security breaches in real-time.
• Real-world Example: A financial institution uses a SIEM (Security Information and Event Management) system to monitor network traffic. It detects unusual login patterns and triggers an alert when it identifies a series of failed login attempts from an unknown source, potentially indicating a brute-force attack.

• Significance: The “Respond” function addresses how organisations should react when a cybersecurity incident occurs. It involves developing an incident response plan, communication strategies, and procedures to contain, mitigate, and recover from incidents swiftly.
• Real-world Example: A technology company experiences a data breach that exposes customer information. They activate their incident response team, notify affected parties, isolate affected systems, and work to identify the attack vector to prevent further compromise.

• Significance: The “Recover” function centers on restoring affected systems and operations to normalcy after a cybersecurity incident. It includes developing recovery plans, assessing the impact, and applying lessons learned to improve future resilience.
• Real-world Example: A municipality’s IT infrastructure is hit by a ransomware attack. After paying the ransom to recover critical data, they establish a robust backup and disaster recovery plan, reducing downtime and the risk of future attacks.

These five core functions work synergistically to manage cybersecurity risks effectively. By identifying assets and potential threats, protecting against vulnerabilities, promptly detecting incidents, responding appropriately, and recovering swiftly, organisations can minimize the impact of cybersecurity incidents and maintain the integrity of their operations and data. A failure in any of these functions can leave an organization vulnerable to cyberattacks and their associated consequences, such as financial losses, reputation damage, and legal liabilities. Therefore, a comprehensive approach that integrates all five core functions is essential for holistic cybersecurity risk management.

In the following sections, we will delve deeper into each core function, providing practical guidance and best practices for implementing them within your organization.

Implementing the NIST Cybersecurity Framework is a strategic process that requires careful planning and commitment. Here are the key steps and best practices to successfully implement the framework within your organization:

• Define Objectives: Begin by setting clear cybersecurity objectives aligned with your organization’s mission and risk tolerance. These objectives should drive your cybersecurity efforts.
• Prioritize Risks: Identify and prioritize cybersecurity risks based on potential impact and likelihood. This prioritization will help you allocate resources effectively.
• Involve Stakeholders: Engage key stakeholders, including executives, IT teams, and legal and compliance experts, to ensure a shared understanding of cybersecurity goals and priorities.

• Asset Inventory: Document all digital assets, including hardware, software, data, and third-party relationships. Understand what you have, where it’s located, and its value.
• Risk Assessment: Conduct a comprehensive risk assessment to identify vulnerabilities, threats, and potential impacts. Consider both internal and external factors.
• Compliance Check: Evaluate your organization’s compliance with relevant cybersecurity regulations and standards, such as GDPR, ACSC Essential Eight, or industry-specific guidelines.

• Set Security Baselines: Define cybersecurity baselines and best practices tailored to your organization’s needs and objectives. Consider NIST’s guidelines and industry standards.
• Risk Mitigation: Develop a risk mitigation strategy that outlines the specific security controls and measures required to address identified risks.
• Create an Implementation Roadmap: Establish a timeline and roadmap for implementing cybersecurity improvements. This should include timelines, responsibilities, and resource allocation.

• Implement Security Controls: Execute the cybersecurity measures outlined in your roadmap. Ensure that they align with the NIST framework’s core functions (Identify, Protect, Detect, Respond, Recover).
• Monitoring and Measurement: Continuously monitor your cybersecurity controls and measure their effectiveness. Use key performance indicators (KPIs) to track progress.
• Incident Response: Implement an incident response plan to address cybersecurity incidents promptly and effectively. Test this plan through simulations and drills.

• Review and Adjust: Regularly review your cybersecurity posture and adapt to emerging threats and changes in your organisation’s environment.
• Employee Training: Provide ongoing cybersecurity training and awareness programs to keep staff informed about evolving threats and best practices.
• Incident Analysis: After each cybersecurity incident, conduct a thorough analysis to understand the root causes and apply lessons learned to enhance security measures.
• Share Knowledge: Collaborate with peers, industry groups, and government agencies to share insights and best practices. Stay informed about the latest threat intelligence.
• Stay Compliant: Keep abreast of changes in regulations and standards and ensure your cybersecurity measures remain compliant.

By following these steps and best practices, you can effectively implement the NIST Cybersecurity Framework, improve your organisation’s cybersecurity posture, and reduce the risk of cyber threats and incidents. Remember that cybersecurity is an ongoing effort that requires continuous attention and adaptation to stay ahead of evolving threats.

Aligning existing cybersecurity efforts with the NIST Cybersecurity Framework is a strategic approach to improving cybersecurity without starting from scratch. Here’s how organisations can do it:

• Gap Analysis: Begin by conducting a gap analysis to compare your current cybersecurity practices against the NIST Framework’s core functions (Identify, Protect, Detect, Respond, Recover). Identify areas where your practices align and where there are gaps.
• Customization: Tailor the NIST Framework’s guidelines, categories, and subcategories to fit your organization’s unique needs. You can adjust the framework to address specific risks and challenges in your industry or environment.
• Leverage Existing Controls: Identify existing cybersecurity controls and practices within your organization that align with NIST’s recommendations. These can include security policies, access controls, and incident response procedures.
• Prioritize Improvements: Based on the gap analysis, prioritize areas where improvements are needed the most. Develop a roadmap for implementing NIST-aligned cybersecurity measures.
• Integration: Ensure that the NIST-aligned cybersecurity measures are integrated into your organization’s overall cybersecurity strategy. This includes training staff, updating policies, and regularly monitoring and assessing your cybersecurity posture.

NIST Special Publication 800-53 provides guidelines and security controls for securing federal information systems in the United States. Its compliance implications include:

• Government Contracts: Organisations that work with U.S. federal agencies or receive federal contracts may be required to comply with NIST SP 800-53. This is particularly relevant for government contractors, research institutions, and service providers.
• Security Standards: NIST SP 800-53 serves as a comprehensive security standard that defines specific security controls and practices. Organisations in regulated industries or dealing with sensitive data can use it as a benchmark for cybersecurity compliance.
• Customization: NIST SP 800-53 offers flexibility for customization, allowing organisations to tailor their security controls to their unique needs while still adhering to the framework’s core principles.

GDPR is a European Union regulation designed to protect the privacy and personal data of EU citizens. Its compliance implications include:

• Data Protection: GDPR imposes strict requirements on how organisations handle personal data, including data breach reporting, data subject rights, and data protection impact assessments.
• Data Security: While GDPR does not specifically mandate compliance with NIST standards, implementing NIST cybersecurity controls can help organisations meet GDPR’s security requirements, especially those related to data protection and risk management.
• Global Impact: GDPR has extraterritorial reach, meaning organisations worldwide that process the personal data of EU citizens must comply. NIST-aligned security measures can assist in meeting GDPR’s stringent data security standards.

When selecting a cybersecurity framework for your organisation, it’s important to understand the differences and similarities between various options. Here, we’ll compare the NIST Cybersecurity Framework with other popular frameworks like ISO 27001, CIS Controls, and CISRAM, and discuss when it’s appropriate to choose the NIST framework over the others.

• Origin: Developed by the National Institute of Standards and Technology (NIST) in the United States.
• Focus: Provides a high-level, risk-based framework for managing and improving cybersecurity posture.
• Flexibility: Highly flexible and adaptable, allowing organisations to customize their approach to cybersecurity.
• Applicability: Suitable for a wide range of organisations, industries, and sectors.
• Core Functions: Organized around five core functions: Identify, Protect, Detect, Respond, and Recover.
• Compliance: While not a compliance standard itself, it aligns with many existing standards and regulations, such as NIST SP 800-53 and GDPR.
• Benefits: Emphasizes a risk-based approach, continuous improvement, and adaptability to evolving threats.

When selecting a cybersecurity framework for your organisation, it’s important to understand the differences and similarities between various options. Here, we’ll compare the NIST Cybersecurity Framework with other popular frameworks like ISO 27001, CIS Controls, and CISRAM, and discuss when it’s appropriate to choose the NIST framework over the others.

• Origin: Developed by the National Institute of Standards and Technology (NIST) in the United States.
• Focus: Provides a high-level, risk-based framework for managing and improving cybersecurity posture.
• Flexibility: Highly flexible and adaptable, allowing organisations to customize their approach to cybersecurity.
• Applicability: Suitable for a wide range of organisations, industries, and sectors.
• Core Functions: Organized around five core functions: Identify, Protect, Detect, Respond, and Recover.
• Compliance: While not a compliance standard itself, it aligns with many existing standards and regulations, such as NIST SP 800-53 and GDPR.
• Benefits: Emphasizes a risk-based approach, continuous improvement, and adaptability to evolving threats.

• Origin: Developed by the International Organization for Standardization (ISO).
• Focus: Concentrates on creating a comprehensive Information Security Management System (ISMS) and achieving ISO 27001 certification.
• Prescriptive: Provides a more prescriptive set of controls and requirements compared to NIST’s flexible guidelines.
• Certification: Organizations can achieve ISO 27001 certification, which demonstrates adherence to a recognized international standard.
• Global Applicability: Widely adopted globally and used by organizations in various industries.
• Benefits: Well-suited for organizations seeking a formal certification and a structured ISMS.

• Origin: Developed by the Center for Internet Security (CIS).
• Focus: Offers a prioritized set of cybersecurity best practices aimed at rapidly improving an organisation’s security posture.
• Prescriptive: Provides specific and actionable controls, making it easy for organisations to implement security measures.
• Scalability: Suitable for organisations of all sizes but particularly beneficial for smaller businesses with limited resources.
• Incident Prevention: Focused on preventing common attacks and incidents by implementing effective controls.
• Benefits: Provides clear, actionable guidance for enhancing cybersecurity, especially for organisations looking to quickly bolster their defenses.

The choice between cybersecurity frameworks depends on your organisation’s specific needs, goals, and constraints. Here are situations where the NIST Cybersecurity Framework may be the preferred choice:

1. Flexibility and Customization: When your organisation values flexibility and wants to tailor its cybersecurity approach to its unique requirements.
2. Risk-Based Approach: If you prioritize a risk-based approach to cybersecurity and continuous improvement.
3. Adaptability: When your organisation wants a framework that can adapt to evolving threats and technology trends.
4. Global Applicability: When your organisation operates internationally and requires a framework with broad applicability across regions and industries.
5. Compliance Alignment: If your organisation needs a framework that aligns with various compliance standards, such as NIST SP 800-53, GDPR, or industry-specific regulations.

Ultimately, the choice of a cybersecurity framework should align with your organisation’s cybersecurity goals, risk tolerance, and existing infrastructure. Some organisations may even choose to combine elements from multiple frameworks to create a customized cybersecurity strategy that meets their specific needs.

• Origin: Also developed by the Center for Internet Security (CIS).
• Focus: Concentrates on assessing and managing cybersecurity risks through a structured methodology.
• Risk Assessment: Provides a systematic approach to identifying, assessing, and mitigating cybersecurity risks.
• Integration: Can be integrated with other frameworks, including the CIS Controls, to create a comprehensive risk management program.
• Benefits: Suitable for organisations seeking a methodical approach to risk assessment and mitigation.

Implementing the NIST Cybersecurity Framework effectively requires access to a range of helpful resources, including publications, tools, training, and certification opportunities. Here are some valuable resources for organisations looking to implement the framework:

• NIST Cybersecurity Framework (CSF) – Version 1.1: The official document outlining the framework, its core functions, and implementation guidance.
  • Link: NIST CSF Version 1.1
• NIST Special Publication 800-53: Provides security and privacy controls for federal information systems and organizations, which align with the NIST CSF.
  • Link: NIST SP 800-53
• NIST Cybersecurity Framework Resource Repository: Offers a collection of resources, case studies, and tools to aid in framework implementation.
  • Link: NIST CSF Resource Repository

• NIST Cybersecurity Framework Online Tool: An interactive tool to help organizations create and manage their cybersecurity profiles.
  • Link: NIST CSF Online Tool
• NIST Cybersecurity Framework Implementation Guidance: Provides guidance on aligning with the framework and implementing its functions.
  • Link: NIST CSF Implementation Guidance

• NIST Cybersecurity Professional (NCSP) Certification: Offered by various training providers, this certification validates expertise in implementing the NIST Cybersecurity Framework.
  • Check with accredited training providers for NCSP programs.
• NIST Cybersecurity Framework Training Courses: Numerous organizations offer training courses focused on understanding and implementing the NIST CSF.
  • Search for training providers online or consult with industry associations.

• NIST CSF LinkedIn Group: Join the LinkedIn group to connect with professionals and experts who share insights and best practices related to the framework.
  • Link: NIST CSF LinkedIn Group

• NIST Cybersecurity Framework Workshops: Attend NIST workshops and events to gain insights into the latest developments and practical implementations of the framework.
  • Check the NIST website for upcoming events.

• Collaborate with Industry Associations: Many industry associations and groups provide resources, webinars, and guidance on implementing the NIST Cybersecurity Framework.
• • • Explore partnerships with relevant organizations in your sector.

These resources can serve as valuable guides for organisations looking to implement the NIST Cybersecurity Framework effectively. Whether you’re just starting or seeking to enhance your cybersecurity posture, these materials, tools, and communities can provide valuable support and expertise.

Identifying and addressing challenges during the implementation of the NIST Cybersecurity Framework is crucial for a successful cybersecurity program. Here are common challenges organisations may face and strategies to overcome them while using Australian spelling:

Challenge: Many employees may lack awareness of cybersecurity risks and best practices, leading to unintentional security breaches.

Strategy: Conduct regular cybersecurity awareness training for all staff, emphasizing the importance of security and their role in protecting the organisation’s assets.

Challenge: Limited budget, staff, or technological resources can hinder the implementation of security controls and measures.

Strategy: Prioritize security efforts based on risk assessment results. Seek cost-effective solutions, consider outsourcing certain tasks, and explore government grants or initiatives for cybersecurity funding.

Challenge: Employees and management may resist changes to existing processes and practices, making it difficult to implement new security measures.

Strategy: Communicate the benefits of cybersecurity improvements clearly. Involve employees in the decision-making process, address concerns, and provide training and support during the transition.

Challenge: Cyber threats constantly evolve, making it challenging to stay ahead of emerging risks.

Strategy: Implement threat intelligence programs to monitor and adapt to new threats. Regularly update security controls and measures to address emerging risks and vulnerabilities.

Challenge: Organisations may struggle with keeping up with multiple compliance requirements, potentially leading to non-compliance.

Strategy: Adopt a risk-based approach to compliance, prioritizing efforts based on the most critical regulatory requirements. Use the NIST Framework as a foundation to address various compliance standards simultaneously.

Challenge: Measuring the effectiveness of cybersecurity efforts can be challenging without clear metrics and key performance indicators (KPIs).

Strategy: Define and track relevant KPIs to measure the impact of security controls. Regularly assess and refine these metrics to demonstrate progress and justify cybersecurity investments.

Challenge: Organisations may struggle to assess and manage cybersecurity risks across their supply chains, particularly if suppliers have varying levels of security maturity.

Strategy: Develop supplier cybersecurity risk assessment frameworks, including contractual obligations for security compliance. Regularly evaluate and communicate with suppliers regarding security expectations.

Challenge: An organization may not have well-defined and tested incident response plans, which can lead to delayed or ineffective responses to cybersecurity incidents.

Strategy: Develop and test comprehensive incident response plans that cover various types of cyber incidents. Ensure clear roles and responsibilities and practice incident response through simulations and drills.

Challenge: Organisations may struggle to maintain a complete inventory of digital assets, making it difficult to apply security controls consistently.

Strategy: Implement asset management tools and processes to maintain an up-to-date inventory of all digital assets. Continuously monitor and update the inventory as new assets are added or decommissioned.

Challenge: A shortage of cybersecurity professionals with the necessary skills can hinder the implementation of security controls and practices.

Strategy: Invest in employee training and development programs to upskill existing staff. Consider outsourcing specific security tasks to third-party experts if necessary.

By acknowledging these challenges and adopting the recommended strategies, organisations can better navigate the implementation of the NIST Cybersecurity Framework and improve their overall cybersecurity posture in the Australian context.

In conclusion, implementing effective cybersecurity measures is paramount in today’s digital age, given the increasing cyber threats that organisations face. The NIST Cybersecurity Framework offers a valuable roadmap for bolstering your organisation’s cybersecurity posture. Here are the key takeaways:

1. Framework Significance: The NIST Cybersecurity Framework provides a structured approach to cybersecurity, emphasizing risk management and adaptability.
2. Five Core Functions: The framework’s five core functions (Identify, Protect, Detect, Respond, and Recover) work in harmony to address cybersecurity risks comprehensively.
3. Alignment and Compliance: The framework aligns with various industry standards and regulations, making it a valuable tool for achieving compliance and regulatory requirements.
4. Customization: The flexibility of the NIST Framework allows organisations to tailor their cybersecurity efforts to their unique needs and risk profiles.
5. Resource Availability: NIST offers a range of resources, including publications, tools, and training opportunities, to support organisations in their implementation efforts.
6. Challenges and Solutions: Common challenges in implementing the framework include resource constraints, lack of awareness, and evolving threats. Strategies to overcome these challenges include training, risk-based prioritisation, and threat intelligence.
7. Supply Chain and Incident Response: Addressing complex supply chain risks and having robust incident response plans are critical components of a successful cybersecurity program.

In today’s ever-evolving threat landscape, cybersecurity is not a one-time endeavor but an ongoing commitment to protect your organization’s assets, data, and reputation. The NIST Cybersecurity Framework serves as a beacon, guiding organisations towards a more resilient and secure future.

We strongly encourage you to consider adopting the NIST Cybersecurity Framework to enhance your organisation’s cybersecurity posture. By implementing its principles and practices, you can better safeguard your digital assets, respond effectively to incidents, and ultimately reduce the risk of cyberattacks. Your commitment to cybersecurity today will ensure a more secure tomorrow for your organisation.

The NIST cyber security framework is designed for businesses of all sizes and at any stage of their cyber security journey.

The NIST framework will help businesses manage the following:

• Identifying risks and vulnerabilities
• Documenting an accurate inventory of assets that require monitoring and protection.
• Ensure resources are focused on where the real risks are.
• Increases the level of awareness across the business of the importance of cyber security and their role in protecting the business from an attack
• Compliance and governance

The main objective of the NIST framework is to help businesses prioritise cybersecurity investment decisions.  It also helps identify how mature your cyber posture is and will assist management, directors and board members understand why investments in cyber security need to be made.