Risk Management 101 for IT Professionals Essential Concepts - Section Introduction - Risk Monitoring and Control

The video tutorial covers the basics of enterprise risk management, focusing on effective risk management, monitoring, and control. It discusses the tools and roles involved, such as the risk program management office, risk champions, and advocates. The tutorial aims to provide a comprehensive understanding of risk monitoring and control processes.

What is the primary focus of enterprise risk management?

• To manage and control risks effectively

• To increase risks for higher rewards

• To eliminate all risks

• To ignore minor risks

Which of the following is a key component of risk monitoring?

• Avoiding all risks

• Identifying and assessing risks

• Ignoring potential risks

• Focusing only on financial risks

What is one of the tools used in risk monitoring and control?

• Risk avoidance

• Risk enhancement

• Risk assessment software

• Risk ignorance

Who is responsible for overseeing the risk management program?

• Risk champions

• Risk program management office

• Risk avoiders

• Risk enhancers

What role do risk advocates play in an organization?

• They ignore risks

• They promote risk awareness and management

• They eliminate all risks

• They enhance risks