Risk Management 101 for IT Professionals Essential Concepts - Risk Categories

The video tutorial discusses various types of risks in IT risk management, categorized into budgetary, information security, operational, organizational, regulatory, resource, schedule, strategic, supply chain, and technology risks. Each category is explained with examples, highlighting how these risks can overlap and impact IT projects and operations. The tutorial emphasizes the importance of identifying and managing these risks to ensure successful IT management.

What is an example of a budgetary risk in IT projects?

• A new competitor entering the market

• A new regulation being introduced

• A 25% budget cut for the next quarter

• A change in leadership

Which of the following is considered an information security risk?

• Supply chain disruptions

• Social engineering attacks

• Budget cuts

• Project delays

What is an example of an operational risk?

• A project finishing ahead of schedule

• A change in GDPR regulations

• A new competitor entering the market

• A denial of service attack on key servers

What is a potential risk when a new CISO is appointed?

• Supply chain delays

• Operational disruptions

• Increased budget

• Changes in strategic direction

What is a resource risk in IT management?

• A new regulation being introduced

• Having insufficient personnel for a new program

• A change in leadership

• A project finishing ahead of schedule

What is a positive aspect of a schedule risk?

• Project delays

• Budget cuts

• Finishing a project ahead of schedule

• Supply chain disruptions

What is a supply chain risk highlighted by the COVID pandemic?

• Budget cuts

• Delays due to reliance on a single vendor

• Changes in leadership

• Increased competition