When an organization encounters a risk, it must take some action to help manage that risk. In this video, you will learn about the five possible risk management actions: risk avoidance, risk transference, risk acceptance, risk mitigation and risk deterrence and how organizations can use those strategies to manage risks.
- [Instructor] Once you complete a risk assessment…for your organization, you are left…with a prioritized list of risks…that require your attention.…Risk management is the process of systematically…analyzing potential responses to each risk,…and implementing strategies to control…those risks appropriately.…No matter what type of risk you're managing,…you have five basic options for addressing the situation.…You can perform risk avoidance, risk transference,…risk mitigation, risk acceptance, or risk deterrence.…
When you avoid a risk, you change your organization's…business practices so that you are…no longer in a position where that risk…can affect your business.…In the last video, we performed a risk assessment…of the risk that flooding posed to…an organization's data center.…If we chose to pursue a risk avoidance strategy…for that risk, we might relocate our data center…to a facility where there is no risk of flood damage.…Transferring a risk attempts to shift…the impact of a risk from your organization…to another organization.…
Members who complete this course will be prepared to answer questions on the Security and Risk Management domain of the CISSP exam, and establish a critical foundation for the rest of their careers.
Find the companion study books at the Sybex test prep site and review the complete CISSP Body of Knowledge at https://www.isc2.org/cissp-domains/default.aspx.
- Aligning security with the business
- Using control frameworks
- Understanding compliance ethics
- Implementing effective security policies
- Ensuring the security of employees
- Managing risk
- Identifying threats
- Managing vendors
- Building security awareness and conducting security training
Skill Level Advanced
1. Security Governance
2. Compliance and Ethics
3. Security Policy
4. Business Continuity
5. Personnel Security
6. Risk Management
7. Threat Modeling
8. Vendor Management
Vendor agreements3m 34s
9. Awareness and Training
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