Risk refers to situations involving uncertainty of profit or loss. There are four types of risk control: accept risk, mitigate risk, eliminate risk, and transfer risk. Accepting risk means stakeholders approve taking on a risk, like a project failure. Mitigating risk reduces risk to an acceptable level, like assigning experienced managers to a project. Eliminating risk reduces risk to zero by stopping the risky activity. Transferring risk shifts it to another entity, like purchasing insurance to transfer fire damage risk.

1. In the Name of ALLAH,
the Most Beneficent the Most Merciful

2. 
Topic:
Risk & Risk Controlling
Presented By:
Daniyal Khan (0047)
Information Security Management

3. 
A situation involving exposure of
danger or uncertainty of
profit/loss is called Risk.
Risk

4. 
There are four types of risk control.
1) Accept Risk
2) Mitigate Risk
3) Eliminate Risk
4) Transfer Risk
Types of risk control

5. 
The stakeholders who are responsible for a risk
can choose to accept a risk. For example, the
risk that a project may fail may be accepted if
the project is of planned importance.
Risk management may include an approval
process for risk acceptance.
Accept Risk

6. 
Actions are taken to reduce risk to an
acceptable level. For example, the
organization assigns a top performing
project management team to a project to
reduce the risk that it will fail.
Mitigate Risk

7. 
When you mitigate risks it's important to
consider secondary risks. Secondary risks are
the risks that are caused by your risk mitigation
efforts.
If you reduce a security risk by applying an
update to software there's a risk that the update
itself contains security vulnerabilities. In some
cases, mitigation activities are higher risk than
the risk they reduce.
Secondary Risk

8. 
A risk may be reduced to zero. Normally
the only way to achieve this is to stop the
activity that generates the risk. For
example, selling a risky investment will
eliminate the risks associated with that
investment.
Eliminate Risk

9. 
A risk may be transferred to another
organization or individual. For
example, fire insurance transfers the
risk of asset damage due to fire.
Transfer Risk

10. 