QUESTION: 13

Which of the following aspect of monitoring tool ensures that the monitoring tool has the ability to keep up with the growth of an enterprise?

Scalability
Customizability
Sustainability
Impact on performance

Answer(s): A

Explanation:

Monitoring tools have to be able to keep up with the growth of an enterprise and meet anticipated growth in process, complexity or transaction volumes; this is ensured by the scalability criteria of the monitoring tool.

Incorrect Answers:
B: For software to be effective, it must be customizable to the specific needs of an enterprise. Hence customizability ensures that end users can adapt the software.

C: It ensures that monitoring software is able to change at the same speed as technology applications and infrastructure to be effective over time.

D: The impact on performance has nothing related to the ability of monitoring tool to keep up with the growth of enterprise.

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QUESTION: 14

You are the project manager in your enterprise. You have identified risk that is noticeable failure threatening the success of certain goals of your enterprise. In which of the following levels do this identified risk exists?

Moderate risk
High risk
Extremely high risk
Low risk

Answer(s): B

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QUESTION: 15

Courtney is the project manager for her organization. She is working with the project team to complete the qualitative risk analysis for her project. During the analysis Courtney encourages the project team to begin the grouping of identified risks by common causes. What is the primary advantage to group risks by common causes during qualitative risk analysis?

It helps the project team realize the areas of the project most laden with risks.
It assist in developing effective risk responses.
It saves time by collecting the related resources, such as project team members, to analyze the risk events.
It can lead to the creation of risk categories unique to each project.

Answer(s): B

Explanation:

By grouping the risks by categories the project team can develop effective risk responses. Related risk events often have common causal factors that can be addressed with a single risk response.

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QUESTION: 16

Which of the following processes is described in the statement below?
"It is the process of exchanging information and views about risks among stakeholders, such as groups, individuals, and institutions."

Risk governance
Risk identification
Risk response planning
Risk communication

Answer(s): D

Explanation:

Risk communication is the process of exchanging information and views about risks among stakeholders, such as groups, individuals, and institutions. Risk communication is mostly concerned with the nature of risk or expressing concerns, views, or reactions to risk managers or institutional bodies for risk management. The key plan to consider and communicate risk is to categorize and impose priorities, and acquire suitable measures to reduce risks. It is important throughout any crisis to put across multifaceted information in a simple and clear manner.

Risk communication helps in switching or allocating the information concerning risk among the decision-maker and the stakeholders. Risk communication can be explained more clearly with the help of the following definitions:
It defines the issue of what a group does, not just what it says.
It must take into account the valuable element in user's perceptions of risk. It will be more valuable if it is thought of as conversation, not instruction.

Risk communication is a fundamental and continuing element of the risk analysis exercise, and the involvement of the stakeholder group is from the beginning. It makes the stakeholders conscious of the process at each phase of the risk assessment. It helps to guarantee that the restrictions, outcomes, consequence, logic, and risk assessment are undoubtedly understood by all the stakeholders.

Incorrect Answers:
C: A risk response ensures that the residual risk is within the limits of the risk appetite and tolerance of the enterprise. Risk response is process of selecting the correct, prioritized response to risk, based on the level of risk, the enterprise's risk tolerance and the cost and benefit of the particular risk response option.

Risk response ensures that management is providing accurate reports on: The level of risk faced by the enterprise
The incidents' type that have occurred
Any alteration in the enterprise's risk profile based on changes in the risk environment

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