NIST SP 800-37: Risk Management Framework (Read instruction)

*************Please, read the instruction before you reply*******************

NIST SP 800-37: Risk Management Framework is a Guideline or recipe for how risk is to be assessed, resolved, and monitored. In this film (https://www.youtube.com/watch?v=3Aoog8fXjMc), each step of this framework is explained and examples are given. 

Watch the film, and use your own words to explain what has to happen in each step, what is the importance of each step, and give one or two examples. The examples should be different from the ones in the film.