You are working in an enterprise. You project deals with important files that are stored on the computer.
You have identified the risk of the failure of operations. To address this risk of failure, you have guided the system administrator sign off on the daily backup. This scenario is an example of which of the following?

• A.Risk avoidance
• B.Risk transference
• C.Risk acceptance
• D.Risk mitigation

Correct Answer: D

Explanation/Reference:
Explanation:
Mitigation is the strategy that provides for the definition and implementation of controls to address the risk described. Here in this scenario, you are trying to reduce the risk of operation failure by guiding administrator to take daily backup, hence it is risk mitigation.
Risk mitigation attempts to reduce the probability of a risk event and its impacts to an acceptable level.
Risk mitigation can utilize various forms of control carefully integrated together. The main control types are:
Managerial(e.g.,policies)

Technical (e.g., tools such as firewalls and intrusion detection systems)

Operational (e.g., procedures, separation of duties)

Preparedness activities

Incorrect Answers:
A: The scenario does not describe risk avoidance. Avoidance is a strategy that provides for not implementing certain activities or processes that would incur risk.
B: The scenario does not describe the sharing of risk. Transference is the strategy that provides for sharing risk with partners or taking insurance coverage.
C: The scenario does not describe risk acceptance, Acceptance is a strategy that provides for formal acknowledgment of the existence of a risk and the monitoring of that risk.

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An organization has completed a risk assessment of one of its service providers. Who should be accountable for ensuring that risk responses are implemented?

• A.Legal representation of the business
• B.Third -partf3ecurity team
• C.IT risk practitioner
• D.The relationship owner

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Which of the following statements is NOT true regarding the risk management plan?

• A.The risk management plan is an output of the Plan Risk Management process.
• B.The risk management plan is an input to all the remaining risk-planning processes.
• C.The risk management plan includes a description of the risk responses and triggers.
• D.The risk management plan includes thresholds, scoring and interpretation methods, responsible parties, and budgets.

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The BEST way to improve a risk register is to ensure the register:

• A.is updated based upon significant events.
• B.documents possible countermeasures.
• C.is regularly audited.
• D.contains the risk assessment completion date.

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Mary is the project manager for the BLB project. She has instructed the project team to assemble, to review the risks. She has included the schedule management plan as an input for the quantitative risk analysis process. Why is the schedule management plan needed for quantitative risk analysis?

• A.Mary will schedule when the identified risks are likely to happen and affect the project schedule.
• B.Mary will utilize the schedule controls and the nature of the schedule for the quantitative analysis of the schedule.
• C.Mary will use the schedule management plan to schedule the risk identification meetings throughout the remaining project.
• D.Mary will utilize the schedule controls to determine how risks may be allowed to change the project schedule.

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