What is the first step in the Management Controls process?

In the Management Controls process, risk assessment is indeed the first step. It involves identifying, analyzing, and evaluating risks that could potentially affect the security objectives of an organization. Conducting a risk assessment allows organizations to understand their vulnerabilities and the potential threats they face, which is crucial for making informed decisions about their security posture.

By starting with risk assessment, organizations can prioritize their initiatives based on the level of risk associated with certain assets or operations. This foundational understanding informs subsequent steps in the management controls process, such as planning and implementing protective measures, acquiring systems, and ultimately seeking security authorization. Thus, a well-executed risk assessment sets the stage for all other security management activities to follow effectively.