From the course: Understanding and Implementing the NIST AI Risk Management Framework (RMF)

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Measure: Section 5.3, C1

Measure: Section 5.3, C1

From the course: Understanding and Implementing the NIST AI Risk Management Framework (RMF)

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Measure: Section 5.3, C1

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- [Instructor] A CIO in a major financial institution where I worked was fond of saying, "If it can't be measured, then it can't be managed." This belief so drove him that if you happen to catch an elevator with him, he would ask what department you worked in and what your total cost of ownership was related to the business. Many would pretend they were going somewhere else if they saw him on the elevator as they approached it. The culture of measurement he was trying to drive in his technology organization is a marker of a mature organization in any process improvement model. The Measure function in the AI RMF Core utilizes quantitative, qualitative, or mixed-method tools, techniques, and methodologies to analyze, assess, benchmark, and monitor AI risk and related impacts. These techniques track metrics related to the entire span of the AI trustworthiness characteristics. The measure function creates a data-driven trust, evaluation, verification, and validation process. Measurement…

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