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

The video tutorial introduces the concept of risk, defining it as an uncertain event that may or may not occur in the future. It distinguishes between negative and positive risks, providing examples from IT projects and business opportunities. The focus then shifts to IT security, emphasizing the importance of managing negative risks. The risk equation is explained as the potential for loss when a threat exploits a vulnerability, highlighting the need for effective risk management in IT systems.

What is a risk from a general perspective?

• A certain event that will occur in the future

• An uncertain event that may or may not occur in the future

• An event that has already occurred

• A guaranteed negative outcome

How can a negative risk affect an IT project?

• By reducing project costs

• By preventing or delaying the achievement of objectives

• By accelerating the project timeline

• By ensuring all goals are met

What is an example of a positive risk?

• A natural disaster affecting operations

• A security breach in IT systems

• A business opportunity that leads to advancement

• A project delay due to supply chain issues

In IT security, what does a risk involve?

• A potential for gain when a threat is ignored

• A situation where vulnerabilities are non-existent

• A potential for loss when a threat exploits a vulnerability

• A guaranteed loss regardless of threats

What is the basic risk equation in IT security?

• Risk equals threat divided by vulnerability

• Risk equals vulnerability minus threat

• Risk equals threat times vulnerability

• Risk equals threat plus vulnerability