Risk Management 101 for IT Professionals Essential Concepts - What Is Risk Management

The video introduces risk management, starting with a basic definition and expanding to a detailed explanation. It emphasizes the importance of reducing risks to an acceptable level, known as risk appetite. The expanded definition highlights systematic and repeatable processes for managing risks, particularly in IT. The video stresses prioritizing and communicating risks to stakeholders and the need for a risk management plan with SOPs. The conclusion summarizes the key points and encourages questions.

Why is it important to prioritize risks in risk management?

Evaluate responses using AI:

OFF

What role do processes and procedures play in effective risk management?

Evaluate responses using AI:

OFF