In this case, proactive risk management planning is a very worthwhile endeavour.Changing the project plan to remove a risk will involve changes to the project scope, resources, and/or time, but it can be the right response. a) Incident response plan b) Risk control plan c) Disaster recovery plan d) Business continuity plan 18. Share your own to gain free Course Hero access. This is the most apt and best strategy to adapt as it directly addresses the core issue. Mitigation includes reduction of the likelihood that a risk event will occur and/or reduction of the effect of a risk event if it does occur. Which of the following risk mitigation strategiesContinue reading 17. We’ve got course-specific notes, study guides, and practice tests along with expert tutors. Each strategy comes with an associated cost. 55) Which of the following statements concerning the difficulties in protecting information resources is not correct? a) Continue operating with no controls and absorb any damages that occur b) Transfer the risk by purchasing insurance. An efficient way to calculate the cost-benefit analysis (CBA) is by. B. Mitigation funding can be used to improve a community’s response and recovery programs. A strategy map is a one-page illustration that shows what the organization hopes to accomplish in terms of the customer, financial, and societal goals, and how it will achieve desired results using processes and resources. Introducing Textbook Solutions. Project risk management is defined as the process of identifying, analyzing and then responding to any risk that arises over the life cycle of a project to help the project remain on track and meet its goal. User permissions B. Which of the following is not a strategy for mitigating the risk of threats, 16 out of 17 people found this document helpful. As a management process, risk management is used to identify and avoid the potential cost, schedule, and performance/technical risks to a system, take a proactive and structured approach to manage negative outcomes, respond to them if they occur, and identify potential opportunities that may be hidden in the situation . The following strategies can be used in risk mitigation planning and monitoring. Which if the following is not a common risk mitigation strategy? A. Risk acceptance would be the better option here, the risk is not critical. Remember, hope is not a strategy. 53) Which of the following is not a strategy for mitigating the risk of threats against information? However, situations may warrant you to consider other strategies. 53) Which of the following is not a strategy for mitigating the risk of threats against information? On Monday morning, the database administrator reported that log files indicated that several records were missing from the database. THE FOUR RISK MITIGATION STRATEGIES a) CBA = ALE(postcontrol) – ALE(precontrol) + ACS If the occurrence rating is high, then by reducing the frequency of occurrence of cause, you will reduce the number of times failure occurs. Section Reference 1: 4.5 Information Security Controls. The risk mitigation plan captures the risk mitigation approach for each identified risk event and the actions the project management team will take to reduce or eliminate the risk. Policy enforcement C. Routine audits D. Change management Answer: C Explanation: After These are avoidance, acceptance, transfer, and mitigation (see Figure 8-14). There are a number of strategies that can be employed as one measure of defense or in a combination of multiple strategies together. Answer to 34. Course Hero is not sponsored or endorsed by any college or university. Which of the following risk mitigation strategies is MOST important to the security manager? Get step-by-step explanations, verified by experts. information resources, providing an example for each. For a limited time, find answers and explanations to over 1.2 million textbook exercises for FREE! The risk management approach and plan operationalize these management goals.Because no two projects ar… Course Hero is not sponsored or endorsed by any college or university. Which of the following is not one of the three types of plans included in a mitigation risk control strategy? 1. These provide the framework to identify, prioritize and implement actions to reduce risk to hazards. It’s far more expensive in many cases to completely avoid a risk than it is to reduce the impact of the risk. Which of the following is not true of a risk management process? Roles and responsibilities for developing the strategy b. This chapter discusses the importance of risk mitigation planning and describes approaches to reducing or mitigating project risks. In Passive acceptance project team decide to take care of risks as they occur. A) Incident response (IR) plan B) Risk control (RC) plan C) Disaster recovery (DR) plan D) Business continuity (BC) plan Risk analysis. Here, it is very important to understand that risk acceptance can be either active or passive. Which of the following is not one of the three types of plans included in a mitigation risk control strategy? Which of the following is NOT a valid rule of thumb on risk control strategy selection? 34. c) Implement controls that minimize the impact of the threat. Risk response strategy is really based on risk tolerance, which has been discussed. When the attacker's potential gain is less than the costs of attack: Apply protections to decrease the attacker's cost or reduce the attacker's gain, by using technical or operational controls. Risk mitigation planning, implementation, and progress monitoring are depicted in Figure 1. Risk mitigation strategies are action plans you conceptualize after making a thorough evaluation of the possible threats, hazards or detriments that can affect a project, a business operation or any form of venture. We mentioned four distinct strategy types of risk mitigation earlier in this chapter. a. However, this is a terrible idea. A. Get one-on-one homework help from our expert tutors—available online 24/7. Although often not possible, this is the easiest way of removing risk from a project. Find the best study resources around, tagged to your specific courses. What you really should do is, for each major risk you’ve identified in your TRA, consciously choose one of the four possible risk mitigation strategies to guide your response to that risk. California State University, San Bernardino, California State University, San Bernardino • IST 309. Which of the following strategies involves understanding something about the enemy and letting them know the harm that can come their way if they cause harm to you? Learning Objective 1: LO 4.4 Discuss the three risk mitigation strategies, providing an example for each in the context of, Section Reference 1: 4.4 What Companies Are Doing to Protect Information Resources. C. III – Mitigation Strategy: Once identified and prioritized, each meaningful risk requires a mitigation strategy. Michael Herrera is a former regional VP at Bank of America and the CEO of MHA, leading providers of business continuity, disaster recovery, and risk assessment services. Risk tolerance in terms of severity is the point above which a risk is not acceptable and below which the risk is acceptable. D. risk 53 ) which of the following is not a common risk mitigation and... Different ways of dealing with risks manage risks to an acceptable level a FMEA, All. 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