Domain 2 Risk Treatment- Risk Response Options - Risk Awareness Program

This set of flashcards covers key concepts related to risk management, focusing on monitoring, reporting, and effective communication of risks and risk metrics.

Risk Monitoring

Ongoing process of risk management that allows monitoring and overseeing the effectiveness of controls in reducing the risk to an acceptable level.

Key Risk Indicators (KRIs)

Meaningful metrics used to reflect on the effectiveness of security controls in minimizing risk to acceptable levels.

Impact of Risk

The potential effect of a risk, often categorized as low, medium, or high.

Cost Effectiveness

The evaluation of whether the effort and resources used to mitigate risks are reasonable in relation to the outcomes achieved.

Sensitivity in Risk Monitoring

The ability to respond to fluctuations in risk and adjust controls accordingly.

Visual Summaries for Stakeholders

Charts or visuals used to present key information to stakeholders clearly and succinctly.

Risk Awareness Program

An initiative to inform staff members about risks and promote a culture of security within the organization.

Tailored Communication

Adjusting the presentation of information to suit the audience's level of understanding and engagement.

Stakeholders

Individuals or groups that have an interest in the outcomes of risk management, including business leaders and employees.

Metrics in Risk Management

Quantitative measures used to assess the effectiveness of risk management efforts.