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

The video tutorial covers three risk assessment scenarios, focusing on both qualitative and quantitative methods. The first scenario involves a project manager dealing with schedule delays in an IT modernization project. The second scenario examines the impact of COVID-19 on VPN stability and employee productivity. The final scenario uses quantitative analysis to assess the risk of an aging air conditioning system in a server room, determining the cost-effectiveness of replacing it.

What is the expected cost of lost sales revenues if the air conditioning system fails in the quantitative risk assessment scenario?

How do you calculate the annualized loss expectancy in the quantitative risk assessment scenario?

What conclusion can be drawn about purchasing a new AC unit based on the quantitative risk assessment?