After the review of a risk record, internal audit questioned why the risk was lowered from medium to low.
Which of the following is the BEST course of action in responding to this inquiry?

• A.Notify the business at the next risk briefing.
• B.Provide justification for the lower risk rating.
• C.Obtain industry benchmarks related to the specific risk.
• D.Reopen the risk issue and complete a full assessment.

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Which of the following documents is described in the statement below?
"It is developed along with all processes of the risk management. It contains the results of the qualitative risk analysis, quantitative risk analysis, and risk response planning."

• A.Quality management plan
• B.Risk management plan
• C.Risk register
• D.Project charter
• E.Explanation:
  Risk register is a document that contains the results of the qualitative risk analysis, quantitative risk analysis, and risk response planning. Risk register is developed along with all processes of the risk management from Plan Risk Management through Monitor and Control Risks.
• F.is incorrect. The quality management plan is a component of the project management plan. It describes how the project team will implement the organization's quality policy. The quality management plan addresses quality control (QC), quality assurance (QA), and continuous process improvement for the project. Based on the requirement of the project, the quality management plan may be formal or informal, highly detailed or broadly framed. Answer:B is incorrect. Risk management plan includes roles and responsibilities, risk analysis definitions, timing for reviews, and risk threshold. The Plan Risk Responses process takes input from risk management plan and risk register to define the risk response.

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Which of the following individuals is responsible for identifying process requirements, approving process design and managing process performance?

• A.Business process owner
• B.Risk owner
• C.Chief financial officer
• D.Chief information officer
• E.Explanation:
  Business process owners are the individuals responsible for identifying process requirements, approving process design and managing process performance. In general, a business process owner must be at an appropriately high level in the enterprise and have authority to commit resources to process-specific risk management activities.

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Which of the following are parts of SWOT Analysis?
Each correct answer represents a complete solution. (Choose four.)

• A.Weaknesses
• B.Tools
• C.Threats
• D.Opportunities
• E.Strengths

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

• A.Findings of the most recent audit
• B.Results of the latest risk assessment
• C.Results of a risk forecasting analysis
• D.A review of compliance regulations

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