CRISC Certified in Risk and Information Systems Control – Question320

You are the project manager of GHT project. You have identified a risk event on your current project that could save $670,000 in project costs if it occurs. Your organization is considering hiring a vendor to help establish proper project management techniques in order to assure it realizes these savings. Which of the following statements is TRUE for this risk event?

A. This risk event should be accepted because the rewards outweigh the threat to the project.
B. This risk event should be mitigated to take advantage of the savings.
C. This risk event is an opportunity to the project and should be exploited.
D. This is a risk event that should be shared to take full advantage of the potential savings.

Correct Answer: D

Explanation:

Explanation: This risk event has the potential to save money on project costs and organization is hiring a vendor to assure that all these saving are being realized. Hence this risk event involves sharing with a third party to help assure that the opportunity take place.
Incorrect Answers:
A: This risk event is not accepted as this event has potential to save money as well as it is shared with a vendor so that all these savings are being realized.
B: The risk event is mitigated when it has negative impacts. But here it is positive consequences (i.e., saving), therefore it is not mitigated.
C: This risk event can be exploited but as here in this scenario, it is stated that organization is hiring vendor, therefore event is being shared not exploited.