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Free CRISC Exam Braindumps (page: 54)

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You are the risk professional of your enterprise. You have performed cost and benefit analysis of control that you have adopted. What are all the benefits of performing cost and benefit analysis of control? Each correct answer represents a complete solution. Choose three.

  1. It helps in determination of the cost of protecting what is important
  2. It helps in taking risk response decisions
  3. It helps in providing a monetary impact view of risk
  4. It helps making smart choices based on potential risk mitigation costs and losses

Answer(s): A,C,D



You are the project manager of GHT project. You want to perform post-project review of your project. What is the BEST time to perform post-project review by you and your project development team to access the effectiveness of the project?

  1. Project is completed and the system has been in production for a sufficient time period
  2. During the project
  3. Immediately after the completion of the project
  4. Project is about to complete

Answer(s): A

Explanation:

The project development team and appropriate end users perform a post-project review jointly after the project has been completed and the system has been in production for a sufficient time period to assess its effectiveness.

Incorrect Answers:
B: The post-project review of project for accessing effectiveness cannot be done during the project as effectiveness can only evaluated after setting the project in process of production.

C: It is not done immediately after the completion of the project as its effectiveness cannot be measured until the system has been in production for certain time period.

D: Post-project review for evaluating the effectiveness of the project can only be done after the completion of the project and the project is in production phase.



What are the steps that are involved in articulating risks? Each correct answer represents a complete solution. Choose three.

  1. Identify business opportunities.
  2. Identify the response
  3. Communicate risk analysis results and report risk management activities and the state of compliance.
  4. Interpret independent risk assessment findings.

Answer(s): A,C,D

Explanation:

Following are the tasks that are involved in articulating risk: Communicate risk analysis results.
Report risk management activities and the state of compliance. Interpret independent risk assessment findings.
Identify business opportunities.



What are the requirements of effectively communicating risk analysis results to the relevant stakeholders? Each correct answer represents a part of the solution. Choose three.

  1. The results should be reported in terms and formats that are useful to support business decisions
  2. Communicate only the negative risk impacts of events in order to drive response decisions
  3. Communicate the risk-return context clearly
  4. Provide decision makers with an understanding of worst-case and most probable scenarios

Answer(s): A,C,D

Explanation:

The result of risk analysis process is being communicated to relevant stakeholders. The steps that are involved in communication are:
The results should be reported in terms and formats that are useful to support business decisions. Coordinate additional risk analysis activity as required by decision makers, like report rejection and scope adjustment.
Communicate the risk-return context clearly, which include probabilities of loss and/or gain, ranges, and confidence levels (if possible) that enable management to balance risk-return.
Identify the negative impacts of events that drive response decisions as well as positive impacts of events that represent opportunities which should channel back into the strategy and objective setting process.
Provide decision makers with an understanding of worst-case and most probable scenarios, due diligence exposures and significant reputation, legal or regulatory considerations.

Incorrect Answers:
B: Both the negative and positive risk impacts are being communicated to relevant stakeholders. Identify the negative impacts of events that drive response decisions as well as positive impacts of events that represent opportunities which should channel back into the strategy and objective setting process.






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