IoT devices are revolutionizing how business processes are accomplished, including inventory management, warehousing, facility management, and healthcare. While IoT devices and networks have the ability to generate value for an organization, their use can also create new vulnerabilities if they are not deployed and managed properly and securely. This effort will develop and integrate a risk-based accounting, such as hierarchical holographic modeling (HHM) and the risk filtering, ranking, and management (RFRM) methodology, to support risk management for networks of IoT devices, allowing for the targeted allocation of resources and updating as new circumstances are realized.