Risk Management 101 for IT Professionals Essential Concepts - Two Methods of Risk Monitoring

The video tutorial discusses two primary types of risk management: ongoing monitoring and separate evaluation. Ongoing monitoring involves routine business activities like staff meetings and operational reviews to manage risks internally. Separate evaluation is conducted at specific times, often by third parties, to assess risks after program changes. Examples include contractor reviews, internal reviews, peer reviews, and audits. The video emphasizes the importance of both methods in managing positive and negative risks effectively.

What is ongoing monitoring in the context of risk management?

Can you list some examples of ongoing monitoring activities mentioned in the video?

What is separate evaluation and when is it typically conducted?

What are some examples of separate evaluation methods discussed in the video?

Why is it important to consider both ongoing monitoring and separate evaluation in risk management?