Risk Management 101 for IT Professionals Essential Concepts - Qualitative Risk Assessments

The video tutorial introduces qualitative risk assessments, focusing on how to score risks based on probability and impact. It explains the creation and use of a risk assessment matrix, highlighting the subjective nature of qualitative assessments. The tutorial compares qualitative with quantitative risk assessments, noting the ease of qualitative methods for initial risk management. The video concludes with a preview of future topics, including the risk register.

What are the two main components considered in a qualitative risk assessment?

How is the overall risk score calculated in a qualitative risk assessment?

What criteria does the speaker use to categorize risks as low, moderate, or high?

Why is the qualitative risk assessment considered somewhat subjective?

What role do project managers or program managers play in the qualitative risk assessment process?