While developing obscure risk scenarios, what are the requirements of the enterprise?
Each correct answer represents a part of the solution. Choose two.

• A.Have capability to cure the risk events
• B.Have capability to recognize an observed event as something wrong
• C.Have sufficient number of analyst
• D.Be in a position that it can observe anything going wrong

Correct Answer: B,D

Explanation/Reference:
Explanation:
The enterprise must consider risk that has not yet occurred and should develop scenarios around unlikely, obscure or non-historical events.
Such scenarios can be developed by considering two things:
Visibility

Recognition

For the fulfillment of this task enterprise must:

Be in a position that it can observe anything going wrong

Have the capability to recognize an observed event as something wrong

Incorrect Answers:
A, C: These are not the direct requirements for developing obscure risk scenarios, like curing risk events comes under process of risk management. Hence capability of curing risk event does not lay any impact on the process of development of risk scenarios.

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Which of the following are risk components of the COSO ERM framework?
Each correct answer represents a complete solution. Choose three.

• A.Risk response
• B.Internal environment
• C.Business continuity
• D.Control activities

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You are the project manager of the NNN Project. Stakeholders in the two-year project have requested to send status reports to them via. email every week. You have agreed and send reports every Thursday. After six months of the project, the stakeholders are pleased with the project progress and they would like you to reduce the status reports to every two weeks. What process will examine the change to this project process and implement it in the project?

• A.Configuration management
• B.Communications management
• C.Perform integrated change control process
• D.Project change control process
• E.Explanation:
  Although this appears to be a simple change the project manager must still follow the rules of the project's change control system. Integrated change control is a way to manage the changes incurred during a project. It is a method that manages reviewing the suggestions for changes and utilizing the tools and techniques to evaluate whether the change should be approved or rejected. Integrated change control is a primary component of the project's change control system that examines the affect of a proposed change on the entire project.

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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?

• A.Avoiding
• B.Accepting
• C.Exploiting
• D.Enhancing
• E.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.

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A risk practitioner has identified that the organization's secondary data center does not provide redundancy for a critical application. Who should have the authority to accept the associated risk?

• A.Business continuity director
• B.Business application owner
• C.Disaster recovery manager
• D.Data center manager

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