What describes 'risk management' within IT governance?

Risk management within IT governance refers to a systematic approach to identifying, assessing, and mitigating risks that can affect the organization's IT systems and operations. This process is crucial because IT environments are fraught with potential threats, including security vulnerabilities, system failures, and compliance issues. By effectively managing these risks, organizations can safeguard their information assets, ensure the integrity of their IT infrastructures, and maintain continuous service delivery.

The focus on identifying risks allows organizations to proactively understand potential hazards, while assessing those risks involves evaluating their impact and likelihood. Mitigation strategies are then developed to address these vulnerabilities, whether through policy changes, technology upgrades, or other means. This comprehensive approach ensures that risk management becomes an integral part of the IT governance framework, aligning with the organization's overall objectives and fostering a resilient IT environment.