00:18 — In this first Future Office of the CXO Minute, Wayne Sadin introduces the topic of risk. What is are the fundamentals of risk?
00:25 — The fundamental risk equation states that inherent risk is the product of risk severity times risk frequency.
00:52 — After determining the inherent risk, management and technology experts develop a risk mitigation strategy to reduce the inherent risk.
01:13 — Residual risk is the risk of what would happen after performing preventative measures.
01:22 — Board members and C-Suite executives need to be talking about the different options for handling the fundamentals of risk. Businesses should not assume to be in a risk-free environment.
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