Module 3.1 Flashcards
1
Q
What is risk management?
A
Attempt to ensure that risk level is acceptable, it is essentially the identification and treatment of a risk
2
Q
What is a risk?
A
It is an adverse event affecting business goals
3
Q
What is the determination of a risk
A
It requires identification of assets and acknowledgement of threats and vulnerabilities
4
Q
How do you determine the risk context?
A
This is the environment of the risk, such as the laws surrounding it, the scope of it, etcs.
5
Q
Risk management should be…
A
Structured, thorough, timely
6
Q
What are the 4 Risk Responses
A
T - Transference (risk is shared)
A - Avoidance
M - Mitigation (reduce the risk)
A - Acceptance
7
Q
What is an asset?
A
A thing that has value or is useful to someone
