Understanding Risk

This Lesson provides a strong risk management foundation by initially investigating what risk is and how it affects an organisation. It then looks at managing risk through a detailed review of the four stages of the risk management lifecycle, before identifying risk analysis approaches and providing some helpful risk register examples. 

Learning objectives

The objectives of this Lesson are to provide you with and understanding of:

• What risk means, how it arises and the likelihood of it impacting an organisation
• The effect big data, the Internet of Things and social media have on the risk landscape
• Management techniques used by organisations to understand the risks they face
• Risk treatment and risk reduction methods
• The risk management lifecycle, illustrating how risks are identified, analysed, treated and monitored
• Qualitative and quantitative methods of risk analysis
• How assets can be classified to help manage risk

Intended audience

This Lesson is ideal for members of information security management teams, IT managers, security and systems managers, information asset owners and employees with legal compliance responsibilities. It acts as a foundation for more advanced managerial or technical qualifications. 

Prerequisites

There are no specific pre-requisites to study this Lesson, however, a basic knowledge of IT, an understanding of the general principles of information technology security, and awareness of the issues involved with security control activity would be advantageous.

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