After completing this video, the learner will understand the five possible risk management actions: risk avoidance, risk transference, risk acceptance, risk mitigation and risk deterrence.
- [Voiceover] Once you complete a risk assessment…for your organization, you're left with a prioritized…list of risks that require your attention.…Risk management is the process of systematically…analyzing potential response to each risk…and implementing strategies…to control those risks appropriately.…No matter what type of risks 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 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.…
- Implementing security controls and policies
- Performing a risk assessment
- Understanding the five risk management actions
- Managing third-party relationships (vendors, etc.)
- Mitigating risk with change management, audits and assessments, and more
- Building an incident response program
- Understanding digital forensics
- Providing security and compliance training
- Ensuring physical security
- Planning for business continuity and disaster recovery
- Matching controls to security goals
Skill Level Intermediate
1. Controls and Risks
2. Third-Party Relationships
Vendor agreements3m 34s
3. Risk Mitigation Strategies
4. Incident Response
6. Awareness and Training
7. Physical Security and Environmental Controls
8. Business Continuity and Disaster Recovery
9. Matching Controls to Security Goals
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