From the course: ISC2 Certified Cloud Security Professional (CCSP) Cert Prep

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Enterprise risk management, part 2

Enterprise risk management, part 2

From the course: ISC2 Certified Cloud Security Professional (CCSP) Cert Prep

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Enterprise risk management, part 2

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- [Instructor] Welcome to part two of this lesson on enterprise risk management. In this lesson, we have four topics. The first is risk treatment. We'll then cover risk frameworks, risk metrics, and risk assessment. Starting with risk treatment, this is the approach that we take to modifying and managing the risks identified within an organization. By first assessing the likelihood and impact of potential risks, organizations can prioritize the treatment based on the severity and probability of occurrence. The four main strategies for risk treatment include avoiding the risk by abstaining from certain activities, transferring the risk through mechanisms like insurance, mitigating the risk by implementing controls to reduce likelihood or impact, and finally, accepting the risk when it falls within the organization's tolerance. The choice between these strategies often involves a mix and is tailored to each specific risk. The balancing act that we play here is achieving an appropriate…

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