Risk Management for Cyber Security Managers - Risk Acceptance and Risk Rejection

The video discusses risk management strategies, focusing on accepting and rejecting risks. It explains scenarios where accepting risk is necessary, such as when mitigation costs outweigh potential losses or when no better solutions exist. The responsibility for accepting risk is highlighted, emphasizing the need for clear accountability, often falling on the CEO or management board. The video also covers scenarios where risks are rejected, often due to perceived insignificance. The session concludes with a preview of the next topic: risk monitoring.

Why might the cost of mitigating a risk outweigh the actual cost of losing an asset?

What are some scenarios in which a company might choose to accept a risk?

How can the acceptance of risks impact a company's cybersecurity strategy?

Who is typically responsible for accepting risks in a company?

What might lead upper management to reject a perceived risk?