Risk Management for Cyber Security Managers - Risk Avoidance

The video tutorial explains the concept of risk avoidance, highlighting its importance when the cost of a risk is too high. It differentiates between risk avoidance and mitigation, emphasizing that avoidance eliminates risk entirely, while mitigation reduces its probability. The impracticality of avoiding all risks due to operational consequences is discussed, with examples like switching operating systems and implementing a no BYOD policy. The video concludes by introducing risk transference as an alternative strategy, to be explored in the next video.

What is the main difference between risk avoidance and risk mitigation?

• Risk mitigation increases the probability of a risk.

• Risk avoidance eliminates the risk entirely.

• Risk mitigation eliminates the risk entirely.

• Risk avoidance reduces the probability of a risk.

Why is it not always practical to avoid all risks?

• Due to lack of technology.

• Because it is too expensive.

• Due to potential operational consequences.

• Because it requires too much time.

What is a potential downside of switching a company's operating system to Linux to avoid risks?

• Linux has more malware threats than Windows.

• Employees may not know how to use Linux.

• Linux is more expensive than Windows.

• Linux is not compatible with any software.

What might be a consequence of banning personal devices for work?

• Increased security risks.

• Reduced employee productivity.

• Higher operational costs.

• Improved employee satisfaction.

What is the next risk management strategy to be discussed after risk avoidance and mitigation?

• Risk elimination.

• Risk acceptance.

• Risk enhancement.

• Risk transference.