Which framework is recognized for incorporating risk management as a critical component?

COBIT (Control Objectives for Information and Related Technologies) is recognized for incorporating risk management as a critical component due to its comprehensive framework that aligns IT goals with business objectives while emphasizing the importance of managing risks effectively. COBIT provides a well-structured approach to risk management through its governance and management objectives, guiding organizations in identifying, assessing, managing, and mitigating risks associated with their information and technology assets.

The framework outlines specific processes related to risk management, ensuring that the organization not only complies with regulatory requirements but also enhances its overall resilience and ability to achieve its strategic objectives. By implementing COBIT, organizations can ensure that risks are consistently monitored and treated, ultimately fostering a culture of accountability and continuous improvement in risk handling.

The other choices emphasize various aspects of management and governance but do not prioritize risk management in the same explicit way as COBIT does. For instance, ITIL focuses on service management practices, ISO 27001 is primarily centered on information security management systems, and PMBOK provides guidelines for project management processes without a direct emphasis on risk management as a core component of governance.