The life cycle approach to security management focuses on various elements of security, such as the assessment, testing, implementation, and monitoring phases of security. In an effort to provide a structured methodology for network security, it emphasizes and describes the roles of regulatory compliance, risks, and security policies in designing effective network frameworks.

As discussed, the components of IT governance, risk management, and compliance, forming the core of the security framework, ensure an economical and efficient process. Including the security component while in the systems development life cycle (SDLC) helps with less expensive and less effective security. The SDLC contains five phases. They are as follows:

• Initiation
• Acquisition and Development
• Implementation
• Operations and Maintenance
• Disposition

Each phase in the life cycle will be discussed in detail.