All right, we're going to get into organizational and cloud risk
management. First, what we'll do is look into the risk management
taxonomy and make sure we have a proper delineation of terms that can
sometimes be conflated together.
Then, we'll look at risk management frameworks,
some of them specifically applicable to cloud consumption.
And then, we will finally take a look at quantitative and qualitative analysis,
show how they work distinctively and then also how they can be integrated.
When we think about risk and the terms that are related to it,
we first have to start with the fact that whatever comes to mind for us in
an IT world may actually not be accurate from a business perspective. It
can be a really loaded term with a lack of clear definitions. When we
think about risk in our world in the IT department or the security
services department, we tend to see risk from a very negative viewpoint.
It represents the problems and the inconvenience associated with IT system
failures.
We see risk as what happens when something goes wrong and we are under
pressure to fix the problem as quickly as possible.
On the other hand, the business may actually see risk as opportunity,
the chance to take a risk and to make a return on investment. And the
larger the risk, the greater the possible reward.
It is some of the most extraordinary amount of risk that has
established some of the wildly famous success stories of all time.
Think of any major successful company. Their origin is often found in
a bed of impossibly insurmountable risk.
So it may be good for us to move away from being risk adverse and to think about
the fully loaded idea of risk from a security perspective and also from a
business initiative perspective. Here are some terms.
When you think about risk, it's actually a combination of assets,
the idea of a threat agent, a threat source, vulnerabilities,
impacts, safeguards, and countermeasures.
There's a story that I'd like to share with you over in the next clip that
helps to delineate very carefully each of these terms.