In a Cloud Ecosystem, the complex relationships among cloud Actors, the Actors individual missions, business processes, and their supporting information systems require an integrated, ecosystem-wide risk management framework that addresses all cloud Actors needs. As with any information system, for a cloud-based information system, cloud Actors are responsible for evaluating their acceptable risk, which depends on the threshold set by their risk tolerance to the cloud Ecosystem-wide residual risk. The risk-based approach of managing information systems is a holistic activity that needs to be fully integrated into every aspect of the organization, from planning to system development life cycle processes to security controls allocation and continuous monitoring. Therefore, a Risk Management Framework (RMF) provides a disciplined and structured process that integrates information security and risk management activities into the system development life cycle.

The report structure is as follows:

1. Title Page

2. Executive Summary (150 words)

3. Table of Contents

4. Introduction (250 words)

5. Body (1000 words) - should address the following aspects:

a. Explain Cloud Ecosystem and Risk Management Framework

b. Describe how to manage information security risk at the ecosystem level

c. Discuss risk management activities and risk management framework steps.

6. Conclusion (100 words)

7. References (At least 5 references, use Harvard Australian referencing format)