Federal Information Security Management Act. The E-Government Act of 2002, Public Law 107-347, title III, Federal Information Security Management Act (FISMA), requires Federal agencies to develop, document, and implement an agencywide information security program and report annually to the Office of Management and Budget (OMB) and the Congress on the adequacy and effectiveness of information security policies, procedures, and practices. FISMA requires that each agency develop and maintain an inventory ...