What is a key element of Risk Management in ITIL?

Identifying, assessing, and minimizing potential risks is a fundamental aspect of Risk Management in ITIL. This approach enables organizations to proactively address uncertainties that could impact service delivery, thereby enhancing their ability to maintain service levels and protect valuable assets.

Risk Management involves a systematic process of recognizing possible risks that may arise from internal and external factors, evaluating the likelihood and impact of these risks, and implementing strategies to mitigate or manage them. Doing so allows IT organizations to achieve their objectives while minimizing disruptions and ensuring a more stable service environment.

By focusing on this comprehensive risk assessment and management cycle, ITIL provides a structured framework that supports decision-making and prioritization of resources to effectively deal with risks before they manifest into issues.