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?

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

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

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