Which of the following processes is described in the statement below?
"It is the process of implementing risk response plans, tracking identified risks, monitoring residual risk, identifying new risks, and evaluating risk process effectiveness throughout the project."

• A.Perform Quantitative Risk Analysis
• B.Monitor and Control Risks
• C.Identify Risks
• D.Perform Qualitative Risk Analysis
• E.Explanation:
  Monitor and Control Risk is the process of implementing risk response plans, tracking identified risks, monitoring residual risk, identifying new risks, and evaluating risk process effectiveness throughout the project. It can involve choosing alternative strategies, executing a contingency or fallback plan, taking corrective action, and modifying the project management plan.

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An unauthorized individual has socially engineered entry into an organization's secured physical premises.
Which of the following is the BEST way to prevent future occurrences?

• A.Require security access badges
• B.Employ security guards
• C.Install security cameras
• D.Conduct security awareness training

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You are the project manager of the GHT project. You are accessing data for further analysis. You have chosen such a data extraction method in which management monitors its own controls. Which of the following data extraction methods you are using here?

• A.Extracting data directly from the source systems after system owner approval
• B.Extracting data from the system custodian (IT) after system owner approval
• C.Extracting data from risk register
• D.Extracting data from lesson learned register

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Which among the following acts as a trigger for risk response process?

• A.Risk level increases above risk appetite
• B.Risk level increase above risk tolerance
• C.Risk level equates risk appetite
• D.Risk level equates the risk tolerance
• E.Explanation:
  The risk response process is triggered when a risk exceeds the enterprise's risk tolerance level. The acceptable variation relative to the achievement of an objective is termed as risk tolerance. In other words, risk tolerance is the acceptable deviation from the level set by the risk appetite and business objectives. Risk tolerance is defined at the enterprise level by the board and clearly communicated to all stakeholders. A process should be in place to review and approve any exceptions to such standards.

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After undertaking a risk assessment of a production system, the MOST appropriate action is for the risk manager to:

• A.inform the IT manager of the concerns and propose measures to reduce them
• B.inform the process owner of the concerns and propose measures to reduce them
• C.inform the development team of the concerns, and together formulate risk reduction measures
• D.recommend a program that minimizes the concerns of that production system

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