Risk Management 101 for IT Professionals Essential Concepts - The Four Risk Response Categories

The video introduces four types of risk responses: avoid, accept, mitigate, and transfer. It provides a brief overview of these categories and outlines plans for future lectures to explore each in detail, enhancing understanding of risk management strategies.

Which of the following is NOT one of the four types of risk responses?

• Transfer

• Accept

• Ignore

• Avoid

What is the primary goal of the 'avoid' risk response?

• To share the risk with another party

• To eliminate the risk entirely

• To reduce the impact of the risk

• To accept the risk as it is

Which risk response involves sharing the risk with another entity?

• Mitigate

• Accept

• Transfer

• Avoid

Which risk response strategy involves taking no action to alter the risk?

• Transfer

• Accept

• Avoid

• Mitigate

What will the upcoming lectures focus on regarding risk responses?

• A comparison with other risk management strategies

• A detailed analysis of each type

• A historical perspective on risk management

• A summary of all types