Why risk management is important in business?

Risk management is important in an organization because without it, a organization cannot define its objectives or Goals clearly for the future. The capability to manage risk will help organization to act more confidently on future business decisions.

The real risk in business : Not knowing which risks are worth taking.

Risk management is an absolutely critical component for any organization overall strategy.

This course is organized in 9 sections:

Section 1 gives an Introduction to the concept of Risk Management and you will learn below concepts:

1. Why to Manage Risk

2. Why Risk Management

3. Components of Risk management

Section 2 describes the Risk Management Terminologies, and and you will learn below concepts:

1. Importance of Risk Management Terminologies

2. What are Assets ?

3. What are Threats ?

4. What is Vulnerability ?

5. What is Impact and Likelihood

6. Risk Governance Vs Risk Management

7. What is Risk Tolerance

Section 3 discusses Risk Management Frameworks and you will learn below concepts:

1. Risk management on Higher level

2. What is Risk Management Framework ?

3. ISO/IEC31000, ISO27005, NIST SP 800-37 and NISTSP 800-39

4. NIST (SP 800-37), Risk Management framework for Federal Information systems

Section 4 discusses Risk Management Process - 50,000 ft Overview and you will learn below concepts:

1. Part 1 - Frame or Setting up the Context

2. Part 2 - Assess the Risk

3. Part 3 - Respond to Risk

4. Part 4 - Monitor the Risk

Section 5 discusses about Risk Management Framework - part 01 Deep Dive and you will learn below concepts:

1. Scoping of Risks

2. Risk Management team and its efforts

3. Where to check if there are Existing Risks

Section 6 discusses about Risk Assessment - Part 02 Deep Dive and you will learn below concepts:

1. What is Threat Modelling

2. Threat Modelling Techniques

3. Risk Assessment Methodologies

4. Output : Risk Assessment Results

Section 7 discusses about Risk Mitigation - Part 03 Deep Dive and you will learn below concepts:

1. What is Risk Reduction or Mitigation

2. What is Risk Transfer

3. What is Risk Avoidance

4. What is Risk Acceptance

Section 8 discusses about Risk Monitoring - Part 04 Deep Dive and you will learn below concepts:

1. Why Risk Monitoring

2. What to do in Risk Monitoring phase

Section 9 : Bonus Section

1. Best Practices in Risk Management

2. Quiz