CRISC Certified in Risk and Information Systems Control – Question171 - CRISC Certified in Risk and Information Systems Control

You are the project manager of HGT project. You are in the first phase of the risk response process and are doing following tasks : Communicating risk analysis results Reporting risk management activities and the state of compliance Interpreting independent risk assessment findings Identifying business opportunities Which of the following process are you performing?

A. Articulating risk
B. Mitigating risk
C. Tracking risk
D. Reporting risk

Correct Answer: A

Explanation:

Explanation:
Articulating risk is the first phase in the risk response process to ensure that information on the true state of exposures and opportunities are made available in a timely manner and to the right people for appropriate response. 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.

Incorrect Answers:
B: Risk mitigation attempts to reduce the probability of a risk event and its impacts to an acceptable level. Risk mitigation can utilize various forms of control carefully integrated together. This comes under risk response process and is latter stage after articulating risk.
C: Tracking risk is the process of tracking the ongoing status of risk mitigation processes. This tracking ensures that the risk response strategy remains active and that proposed controls are implemented according to schedule.
D: This is not related to risk response process. It is a type of risk. Reporting risks are the risks that are caused due to wrong reporting which leads to bad decision.