Explanation:
The monetary value of the server should be based on the cost of its replacement. However, the financial impact to the enterprise may be much broader, based on the function that the server performs for the business and the value it brings to the enterprise.
Incorrect Answers: B, C, D: Cost of software is not been counted because it can be restored from the back-up media. On the other hand’ Ale for all risk related to the server does not represent the server’s value. Lastly, the original cost may be significantly different from the current cost and, therefore, not relevant to this.

Explanation: Capability maturity models are the models that are used by the enterprise to rate itself in terms of the least mature level (having nonexistent or unstructured processes) to the most mature (having adopted and optimized the use of good practices). The levels within a capability maturity model are designed to allow an enterprise to identify descriptions of its current and possible future states. In general, the purpose is to:

• Identify, where enterprises are in relation to certain activities or practices.
• Suggest how to set priorities for improvements

Incorrect Answers:
D: There is no such model exists in risk management process.
B: Decision tree analysis is a risk analysis tool that can help the project manager in determining the best risk response. The tool can be used to measure probability, impact, and risk exposure and how the selected risk response can affect the probability and/or impact of the selected risk event. It helps to form a balanced image of the risks and opportunities connected with each possible course of action. This makes them mostly useful for choosing between different strategies, projects, or investment opportunities particularly when the resources are limited. A decision tree is a decision support tool that uses a tree-like graph or model of decisions and their possible consequences, including chance event outcomes, resource costs, and utility.
C: Fishbone diagrams or Ishikawa diagrams shows the relationships between the causes and effects of problems.

Explanation:
Standard establishes mandatory rules, specifications and metrics used to measure compliance against quality, value, etc. Standards are usually intended for compliance purposes and to provide assurance to others who interact with a process or outputs of a process.
Incorrect Answers:
A: Frameworks are generally accepted, business-process-oriented structures that establish a common language and enable repeatable business processes.
B: These are legal rules underneath which project has to be.
D: Practices are frequent or usual actions performed as an application of knowledge. A leading practice would be defined as an action that optimally applies knowledge in a particular area. They are issued by a “recognized authority” that is appropriate to the subject matter. issuing bodies may include professional associations and academic institutions or commercial entities such as software vendors. They are generally based on a combination of research, expert insight and peer review.

Explanation: The best answer to include the project team members is that they’ll need to develop a sense of ownership for the risks and associated risk responsibilities.
Incorrect Answers:
B: The reason to include the project team is that the project team needs to develop a sense of ownership for the risks and associated risk responsibilities, not to assign risk ownership and risk responses at this point.
C: While the project manager shouldn’t be the only person to identify the risk events, this isn’t the best answer.
D: The reason to include the project team is that the project team needs to develop a sense of ownership for the risks and associated risk responsibilities, not to assign risk ownership.

Explanation: Enterprise having risk management capability maturity level 4 and 5 takes business decisions considering the probability of loss and the probability of reward, i.e., considering all the aspects of risk.
Incorrect Answers:
A: Enterprise having risk management capability maturity level 0 takes business decisions without considering risk credential information.
B: At this low level of risk management capability the enterprise takes decisions considering specific risk issues within functional and business silos (e.g., security, business continuity, operations).

Explanation: The lack of any significant differences between perpetual levels and actual levels provides indirect information that its billing controls are operating. It does not provide any direct information.
Incorrect Answers:
A: It does not provide direct information as there is no information about the propriety of cutoff. C, D: These are not the types of information.

Explanation: This is an example of SWOT analysis. SWOT analysis examines the strengths, weaknesses, opportunities, and threats within the project and generated from within the organization. SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. It is a part of business policy that helps an individual or a company to make decisions. It includes the strategies to build the strength of a company and use the opportunities to make the company successful. It also includes the strategies to overcome the weaknesses of and threats to the company.
Incorrect Answers:
A: Root cause analysis examines causal factors for events within the project.
B: Influence diagramming techniques examines the relationships between things and events within the project.
D: Assumptions analysis does not use four pre-defined perspectives for review.

Explanation:
Following are the phases that are involved in Information system monitoring and maintenance:

• Prioritize risk: The first phase involves the prioritization of risk which in turn involves following task:
  – Analyze and prioritize risks to organizational objectives.
  – Identify the necessary application components and flow of information through the system.
  – Examine and understand the functionality of the application by reviewing the application system documentation and interviewing appropriate personnel.
• Identify controls: After prioritizing risk now the controls are identified, and this involves following tasks:
  – Key controls are identified across the internal control system that addresses the prioritized risk.
  – Applications control strength is identified.
  – Impact of the control weaknesses is being evaluated.
  – Testing strategy is developed by analyzing the accumulated information.
• Identify information: Now the IS control information should be identified:
  – Identify information that will persuasively indicate the operating effectiveness of the internal control system.
  – Observe and test user performing procedures.
• Implement monitoring: Develop and implement cost-effective procedures to evaluate the persuasive information.
• Report results: After implementing monitoring process the results are being reported to relevant stakeholders.

Incorrect Answers: A, C, D: These all phases occur in IS monitoring and maintenance process after prioritizing risks.

Explanation:
SWOT analysis is a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business venture. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favorable and unfavorable to achieving that objective. The technique is credited to Albert Humphrey, who led a research project at Stanford University in the 1960s and 1970s using data from Fortune 500 companies.
Incorrect Answers:
B: Tools are not the parts of SWOT analysis.

Explanation:
This chart is a probability-impact matrix in a quantitative analysis process. The probability and financial impact of each risk is learned through research, testing, and subject matter experts. The probability of the event is multiplied by the financial impact to create a risk event value for each risk. The sum of the risk event values will lead to the contingency reserve for the project.
Incorrect Answers:
A: The risk response plan is based on the risk responses, not the risk probability-impact matrix.
C: The risk responses are needed but this chart doesn’t help the project manager to create them.
D: This chart is created as part of quantitative analysis.