Risk Management 101 for IT Professionals Essential Concepts - Who Uses Risk Management

The video tutorial explains the importance of risk management at various levels within an organization, from projects and programs to business units and the entire enterprise. It emphasizes that risk management should be a comprehensive practice involving all parts of an organization, not just isolated to specific areas. The concept of enterprise risk management is introduced, highlighting its role in overseeing risks across all organizational levels. The tutorial concludes with a reminder that everyone in an organization should engage in risk management practices.

Who is responsible for utilizing risk management within an organization?

• Everyone in the organization

• Only business unit leaders

• Only executives

• Only project managers

At which levels can risk management occur within an organization?

• At project, program, and organizational levels

• Only at the program level

• Only at the organizational level

• Only at the project level

What is the role of risk management in ongoing programs?

• To manage risks regularly as part of the program

• To focus only on past risks

• To delegate risk management to external consultants

• To ignore risks until they become critical

What is the focus of enterprise risk management?

• Managing risks at the project level only

• Overseeing risks across all business units and the organization

• Focusing solely on financial risks

• Managing risks at the executive level only

Why is it important for risk management to occur at all levels of an organization?

• To ensure only executives are aware of risks

• To manage risks comprehensively across the organization

• To focus solely on project risks

• To limit risk management to financial aspects