Risk Management 101 for IT Professionals Essential Concepts - Types of Risk Assessments

The video introduces two types of risk assessments in IT risk management: qualitative and quantitative. Qualitative assessments are more popular due to their ease of implementation, using probability and impact scores to evaluate risks. However, they are subjective and not entirely accurate. Quantitative assessments, on the other hand, rely on specific data and formulas, providing objective results but are harder to implement due to the need for precise data. The video concludes with a promise of detailed lectures on each type of assessment.

What are the two types of risk assessments mentioned in the lecture?

Explain the main characteristics of qualitative risk assessments.

Why do many people prefer qualitative assessments over quantitative ones?

What makes quantitative risk assessments more objective compared to qualitative assessments?

What will be covered in the next lecture after the introduction to qualitative assessments?