Risk Management 101 for IT Professionals Essential Concepts - The Risk Management Lifecycle

This video provides an overview of the risk management lifecycle, detailing each step involved. It begins with identifying risks, followed by assessing them using qualitative and quantitative methods. The next step is planning appropriate risk responses, which include mitigation, transference, acceptance, and avoidance. Finally, the video covers monitoring and controlling risks until they are resolved. Each step will be explored in dedicated sections in the course.

List the common ways to respond to risks as mentioned in the text.

What is the final step in the risk management lifecycle?