Risk Management 101 for IT Professionals Essential Concepts - Why Risk Management Fails

The video discusses why risk management often fails, highlighting issues such as risk-averse cultures, lack of top-down support, and insufficient stakeholder engagement. It emphasizes the need for executive involvement and proper communication to ensure effective risk management. The importance of integrating risk management with business strategy is also discussed, along with insights from enterprise risk management reports. The video concludes with key takeaways, stressing the strategic value of risk management.

What key takeaways can be drawn from the annual report on enterprise risk management?

What statistics were found regarding organizations with complete enterprise risk management processes?

What are some perceived roadblocks that prevent organizations from strengthening their risk management approach?

In what ways do organizations view risk management as a cost center?