CRISC Certified in Risk and Information Systems Control – Question128

Which of the following steps ensure effective communication of the risk analysis results to relevant stakeholders? Each correct answer represents a complete solution. Choose three.

A. The results should be reported in terms and formats that are useful to support business decisions
B. Provide decision makers with an understanding of worst-case and most probable scenarios,due diligence exposures and significant reputation, legal or regulatory considerations
C. Communicate the negative impacts of the events only, it needs more consideration
D. Communicate the risk-return context clearly

Correct Answer: ABD

Explanation:

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:
C: Communicate 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, for effective communication. Only negative impacts are not considered alone.