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The CRISC Certification is particularly valuable for professionals who oversee and manage IT systems and security. It provides them with the knowledge and skills necessary to identify and mitigate risks related to information technology, ensuring that sensitive data remains secure and protected. Certified in Risk and Information Systems Control certification also helps professionals to understand the impact of technology risks on business operations, enabling them to develop effective risk management strategies.
To be eligible to take the exam, candidates must have at least three years of experience in the fields of risk management or information systems control, as well as a solid understanding of the principles and practices of these areas. Additionally, candidates must meet certain educational requirements and agree to abide by the ISACA Code of Professional Ethics.
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NEW QUESTION # 1275
Kelly is the project manager of the NNQ Project for her company. This project will last for one year and has a budget of $350,000. Kelly is working with her project team and subject matter experts to begin the risk response planning process. What are the two inputs that Kelly would need to begin the plan risk response process?
Answer: C
Explanation:
Explanation/Reference:
Explanation:
The only two inputs for the risk response planning are the risk register and the risk management plan.
The plan risk response project management process aims to reduce the threats to the project objectives and to increase opportunities. It follows the perform qualitative risk analysis process and perform quantitative risk analysis process. Plan risk response process includes the risk response owner to take the job for each agreed-to and funded risk response. This process addresses the risks by their priorities, schedules the project management plan as required, and inserts resources and activities into the budget.
The inputs to the plan risk response process are as follows:
Risk register
Risk management plan
Incorrect Answers:
B: Kelly will not need the risk response plan until monitoring and controlling the project.
C: The results of risk analysis will help Kelly prioritize the risks, but this information will be recorded in the risk register.
D: Kelly needs the risk register and the risk management plan as the input. The power to assign risk responses is not necessarily needed by Kelly.
NEW QUESTION # 1276
Which of the following processes is described in the statement below?
"It is the process of exchanging information and views about risks among stakeholders, such as groups, individuals, and institutions."
Answer: A,D
Explanation:
is incorrect. Risk response is a process of deciding what measures should be taken to reduce threats and take advantage ofthe opportunities discovered during the risk analysis processes. This process also includes assigning departments or individual staff members the responsibility of carrying out the risk response plans and these folks are known as risk owners. The prioritization of the risk responses and development of the risk response plan is based on following parameters: Cost of the response to reduce risk within tolerance levels Importance of the risk Capability to implement the response Effectiveness and efficiency of the response Risk prioritization strategy is used to create a risk response plan and implementation schedule because all risk cannot be addressed at the same time. It may take considerable investment of time and resources to address all the risk identified in the risk analysis process. Risk with a greater likelihood and impact on the enterprise will prioritized above other risk that is considered less likely or lay less impact. Answer: A is incorrect. Risk governance is a systemic approach to decision making processes associated to natural and technological risks. It is based on the principles of cooperation, participation, mitigation and sustainability, and is adopted to achieve more effective risk management. It seeks to reduce risk exposure and vulnerability by filling gaps in risk policy, in order to avoid or reduce human and economic costs caused by disasters. Risk governance is a continuous life cycle that requires regular reporting and ongoing review. The risk governance function must oversee the operations of the risk management team. Answer: B is incorrect. The International Risk Governance Council (IRGC) is a self-governing organization whose principle is to facilitate the understanding and managing the rising overall risks that have impacts on the economy and society, human health and safety, the environment at large. IRGC's effort is to build and develop concepts of risk governance, predict main risk issues and present risk governance policy recommendations for the chief decision makers. IRGC mainly
emphasizes on rising, universal risks for which governance deficits exist.
Its goal is to present recommendations for how policy makers can correct them. IRGC models at
constructing strong, integrative inter-disciplinary governance models for up-coming and existing
risks.
NEW QUESTION # 1277
Ben is the project manager of the CMH Project for his organization. He has identified a risk that has a low probability of happening, but the impact of the risk event could save the project and the organization with a significant amount of capital. Ben assigns Laura to the risk event and instructs her to research the time, cost, and method to improve the probability of the positive risk event. Ben then communicates the risk event and response to management. What risk response has been used here?
Answer: D
Explanation:
Section: Volume B
Explanation:
Enhance is a risk response to improve the conditions to ensure the risk event occurs. Risk enhancement raises the probability of an opportunity to take place by focusing on the trigger conditions of the opportunity and optimizing the chances. Identifying and maximizing input drivers of these positive-impact risks may raise the probability of their occurrence.
Incorrect Answers:
A: Transference is a strategy to mitigate negative risks or threats. In this strategy, consequences and the ownership of a risk is transferred to a third party. This strategy does not eliminate the risk but transfers responsibility of managing the risk to another party. Insurance is an example of transference.
C: Exploit response is one of the strategies to negate risks or threats that appear in a project. This strategy may be selected for risks with positive impacts where the organization wishes to ensure that the opportunity is realized. Exploiting a risk event provides opportunities for positive impact on a project. Assigning more talented resources to the project to reduce the time to completion is an example of exploit response.
D: Sharing happens through partnerships, joint ventures, and teaming agreements. Sharing response is where two or more entities share a positive risk. Teaming agreements are good example of sharing the reward that comes from the risk of the opportunity.
NEW QUESTION # 1278
Which of the following approaches is most effective for early identification of advanced persistent threats (APTs)?
Answer: A
Explanation:
Comprehensive and Detailed Explanation From Exact Extract:
The identification of advanced persistent threats (APTs) is best supported by timely and relevant external information. Reviewing information from threat intelligence sources enables the organization to detect emerging threats quickly and accurately, reducing the mean time to identify APTs. While internal audits and KRIs are important, they typically focus on internal controls and risk monitoring rather than external threat detection. Thorough documentation of risk scenarios supports risk assessment but does not directly reduce detection time. Therefore, leveraging threat intelligence is the most effective approach for early identification of sophisticated threats.
NEW QUESTION # 1279
After identifying new risk events during a project, the project manager s NEXT step should be to:
Answer: B
Explanation:
After identifying new risk events during a project, the project manager's next step should be to record the scenarios into the risk register, which is a document that records and tracks the identified risks, their causes, impacts, likelihood, responses, owners, and status. Recording the scenarios into the risk register helps to document and communicate the risks to the project team and stakeholders, and to facilitate the subsequent risk analysis and response processes. The other options are not the next steps, but rather the subsequent steps after recording the scenarios into the risk register. Determining if the scenarios need to be accepted or responded to is part of the risk evaluation and treatment process, which requires a prior risk analysis. Continuing with a qualitative or quantitative risk analysis is part of the risk assessment process, which requires a prior risk identification and documentation. References = Risk Register: A Project Manager's Guide with Examples
[2023] * Asana; Risk Identification in Project Management; 6.3. The 5 Steps of the Risk Management Process
NEW QUESTION # 1280
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