For almost all private individuals and especially organizations information technology (IT) including hardware, software, and data is an irreplaceable part of their everyday life/business. Thus, IT has to be protected in an adequate way to ensure that it delivers the expected services. Information security risk management (ISRM) helps to holistically protect the IT and to minimize their failure probability at reasonable costs. This chapter shows why ISRM is important for e-businesses, gives a brief overview about the ISRM history, describes current problems in ISRM, and presents novel ISRM methods as potential solutions to the stated problems. The chapter closes with an outlook on future ISRM research directions.