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  2. ISACA Certification
  3. CRISC Exam
  4. ISACA.CRISC.v2022-04-29.q944 Dumps
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Question 551

Shawn is the project manager of the HWT project. In this project Shawn's team reports that they have found a way to complete the project work cheaply than what was originally estimated earlier. The project team presents a new software that will help to automate the project work. While the software and the associated training costs $25,000 it will save the project nearly $65,000 in total costs. Shawn agrees to the software and changes the project management plan accordingly. What type of risk response had been used by him?

Correct Answer: C
Explanation/Reference:
Explanation:
A risk event is been exploited so as to identify the opportunities for positive impacts. 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.
Incorrect Answers:
A: To avoid a risk means to evade it altogether, eliminate the cause of the risk event, or change the project plan to protect the project objectives from the risk event.
B: Accepting is a risk response that is appropriate for positive or negative risk events. It does not pursue the risk, but documents the event and allows the risk to happen. Often acceptance is used for low probability and low impact risk events.
D: Enhancing is a positive risk response that aims to increase the probability and/or impact of the risk event.
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Question 552

Which of the following is the BEST indication of a mature organizational risk culture?

Correct Answer: A
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Question 553

Which of the following should be considered to ensure that risk responses that are adopted are cost-effective and are aligned with business objectives?
Each correct answer represents a part of the solution. Choose three.

Correct Answer: A,B,D
Section: Volume B
Explanation:
Risk responses require a formal approach to issues, opportunities and events to ensure that solutions are cost- effective and are aligned with business objectives. The following should be considered:
* While preparing the risk response, identify the risk in business terms like loss of productivity, disclosure of confidential information, lost opportunity costs, etc.
* Recognize the business risk appetite.
* Follow an integrated approach in business.
Risk responses requiring an investment should be supported by a carefully planned business case that justifies the expenditure outlines alternatives and describes the justification for the alternative selected.
Incorrect Answers:
C: There is no such requirement to follow the pre-defined risk responses. If some new risk responses are discovered during the risk management of a particular project, they should be noted down in lesson leaned document so that project manager working on some other project could also utilize them.
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Question 554

What is the PRIMARY need for effectively assessing controls?

Correct Answer: C
Section: Volume A
Explanation:
Controls can be effectively assessed only by determining how accurately the control objective is achieved within the environment in which they are operating. No conclusion can be reached as to the strength of the control until the control has been adequately tested.
Incorrect Answers:
A: Alignment of control with the operating environment is essential but after the control's accuracy in achieving objective. In other words, achieving objective is the top most priority in assessing controls.
B: Control's design effectiveness is also considered but is latter considered after achieving objectives.
D: Control's operating effectiveness is considered but after its accuracy in objective achievement.
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Question 555

Which of the following would provide the MOST comprehensive information for updating an organization's risk register?

Correct Answer: D
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