Which of the following risk responses include feedback and guidance from well-qualified risk officials and those internal to the project?
Answer(s): C
Expert judgment is utilized in developing risk responses, including feedback and guidance from risk management experts and those internal to the project qualified to provide assistance in this process. Expert judgment is a technique based on a set of criteria that has been acquired in a specific knowledge area or product area. It is obtained when the project manager or project team requires specialized knowledge that they do not possess. Expert judgment involves people most familiar with the work of creating estimates. Preferably, the project team member who will be doing the task should complete the estimates. Expert judgment is applied when performing administrative closure activities, and experts should ensure the project or phase closure is performed to the appropriate standards.Incorrect Answers:A: Contingent response strategy, also known as contingency planning, involves adopting alternatives to deal with the risks in case of their occurrence. Unlike the mitigation planning in which mitigation looks to reduce the probability of the risk and its impact, contingency planning doesn't necessarily attempt to reduce the probability of a risk event or its impacts. Contingency comes into action when the risk event actually occurs.B: Risk acceptance means that no action is taken relative to a particular risk; loss is accepted if it occurs. If an enterprise adopts a risk acceptance, it should carefully consider who can accept the risk. Risk should be accepted only by senior management in relationship with senior management and the board. There are two alternatives to the acceptance strategy, passive and active.Passive acceptance means that enterprise has made no plan to avoid or mitigate the risk but willing to accept the consequences of the risk.Active acceptance is the second strategy and might include developing contingency plans and reserves to deal with risks.D: Risk transfer means that impact of risk is reduced by transferring or otherwise sharing a portion of the risk with an external organization or another internal entity. Transfer of risk can occur in many forms but is most effective when dealing with financial risks. Insurance is one form of risk transfer.
You are the risk professional of your enterprise. Your enterprise has introduced new systems in many departments. The business requirements that were to be addressed by the new system are still unfulfilled, and the process has been a waste of resources. Even if the system is implemented, it will most likely be underutilized and not maintained making it obsolete in a short period of time. What kind of risk is it?
Answer(s): B
Business risk relates to the likelihood that the new system may not meet the user business needs, requirements and expectations. Here in this stem it is said that the business requirements that were to be addressed by the new system are still unfulfilled, therefore it is a business risk.Incorrect Answers:A: This is one of the components of risk. Inherent risk is the risk level or exposure without applying controls or other management actions into account. But here in this stem no description of control is given, hence it cannot be concluded whether it is an inherent risk or not.C: Project risk are related to the delay in project deliverables. The project activities to design and develop the system exceed the limits of the financial resources set aside for the project. As a result, the project completion will be delayed. They are not related to fulfillment of business requirements.D: This is one of the components of risk. Residual risk is the risk that remains after applying controls.But here in this stem no description of control is given, hence it cannot be concluded whether it is a residual risk or not.
Qualitative risk assessment uses which of the following terms for evaluating risk level? Each correct answer represents a part of the solution. Choose two.
Answer(s): A,C
Unlike the quantitative risk assessment, qualitative risk assessment does not assign dollar values. Rather, it determines risk's level based on the probability and impact of a risk. These values are determined by gathering the opinions of experts.Probability- establishing the likelihood of occurrence and reoccurrence of specific risks, independently, and combined. The risk occurs when a threat exploits vulnerability. Scaling is done to define the probability that a risk will occur. The scale can be based on word values such as Low, Medium, or High. Percentage can also be assigned to these words, like 10% to low and 90% to high.Impact- Impact is used to identify the magnitude of identified risks. The risk leads to some type of loss. However, instead of quantifying the loss as a dollar value, an impact assessment could use words such as Low, Medium, or High. Impact is expressed as a relative value. For example, low could be 10, medium could be 50, and high could be 100.Risk level = Probability * Impact Incorrect Answers:B, D: These are used for calculating Annual loss expectancy (ALE) in quantitative risk assessment. Formula is given as follows:ALE= SLE * ARO
You are working in an enterprise. Your enterprise is willing to accept a certain amount of risk. What is this risk called?
Risk appetite considers the qualitative and quantitative aspects of accepting risks in an organization. The term refers to the type of risks the organization is willing to pursue, as well as amount of risk and the level of risk.Risk appetite is the amount of risk a company or other entity is willing to accept in pursuit of its mission. This is the responsibility of the board to decide risk appetite of an enterprise. When considering the risk appetite levels for the enterprise, the following two major factors should be taken into account:The enterprise's objective capacity to absorb loss, e.g., financial loss, reputation damage, etc.The culture towards risk taking-cautious or aggressive. In other words, the amount of loss the enterprise wants to accept in pursue of its objective fulfillment. Incorrect Answers:A, B: Aversion and hedging are related to each other and represents the avoidance of risk within the organization.D: The acceptable variation relative to the achievement of an objective is termed as risk tolerance. In other words, risk tolerance is the acceptable deviation from the level set by the risk appetite and business objectives.Risk tolerance is defined at the enterprise level by the board and clearly communicated to all stakeholders. A process should be in place to review and approve any exceptions to such standards.
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?
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.Incorrect Answers:A: Configuration management is the documentation and control of the product's features and functions. B: Communications management is the execution of the communications management plan.D: The project change control process not valid as it's the parent of the integrated change control process, which is more accurate for this question.
Share your comments for ISACA CRISC exam with other users:
good training
very useful
yes need this exam dumps
these questions are a great eye opener
thank you for providing these questions and answers. they helped me pass my exam. you guys are great.
good knowledge
answer 10 should be a because only a new project will be created & the organization is the same.
can you please upload the dump again
is it legit questions from sap certifications ?
question 16 should be b (changing the connector settings on the monitor) pc and monitor were powered on. the lights on the pc are on indicating power. the monitor is showing an error text indicating that it is receiving power too. this is a clear sign of having the wrong input selected on the monitor. thus, the "connector setting" needs to be switched from hdmi to display port on the monitor so it receives the signal from the pc, or the other way around (display port to hdmi).
q 10. ans is d (in the target org: open deployment settings, click edit next to the source org. select allow inbound changes and save
i purchased this exam dumps from another website with way more questions but they were all invalid and outdate. this exam dumps was right to the point and all from recent exam. it was a hard pass.
it was a good experience and i got 90% in the 200-901 exam.
hi please upload this
please upload it
really need this dump. can you please help.
really good and covers many areas explaining the answer.
yes, can you please upload the exam?
how many questions are there in these dumps?
hi team, please upload this , i need it.
question 14 - run terraform import: this is the recommended best practice for bringing manually created or destroyed resources under terraform management. you use terraform import to associate an existing resource with a terraform resource configuration. this ensures that terraform is aware of the resource, and you can subsequently manage it with terraform.
please upload dump. thanks in advance.
great great
answer 16 should be b your organizational policies require you to use virtual machines directly
the question are kind of tricky of you didnt get the hnag on it.
can anyone tell me if this is for rhel8 or rhel9?
good content
pdb and cdb are critical to the database
till 104 questions are free, lets see how it helps me in my exam today.
question # 56, answer is true not false.
i would be requiring dumps to prepare for certification exam
very helpful
control file is the heart of rman backup
Keeping this site free takes real effort. We constantly battle automated scraping and unauthorized content copying. A quick account helps us protect the community and keep the site free.
To continue studying for your CRISC, please sign in or create a free account.