Explain the Concept of Risk Management in the Context of a Digital Organization (11.1, 11.2, 11.3 Including Subsections for All, Risk Management Practice 2.1 & 2.4 Including All Subsections) ITIL-4-STRATEGIC-LEADER-MODULES Practice Questions (Page 10)

Questions 46–50

1. 46foundation · easy

   What does 'value protection' mean in the context of risk management?

   • AReducing the organization's risk appetite
   • BMaximizing the organization's market share
   • CEnsuring that the organization's assets and reputation are safeguarded from potential losses
   • DEliminating all risks from the organization
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2. 47foundation · easy

   How does risk management align with organizational governance?

   • ARisk management is separate from governance and has no connection
   • BRisk management replaces the need for governance
   • CRisk management is only concerned with financial reporting
   • DRisk management provides assurance that the organization is achieving its objectives within its risk appetite
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4. 48foundation · easy

   How should risk management be integrated into digital and IT strategy formulation?

   • ABy considering risks and opportunities when defining strategic objectives and initiatives
   • BAs a separate activity conducted after the strategy is defined
   • CBy delegating risk management to external consultants
   • DBy focusing only on financial risks during strategy development
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5. 49application · medium

   A media company is developing its digital strategy to launch a new streaming service. The strategy team has identified several risks, including content licensing costs and technology infrastructure scalability. How should the team integrate risk management into the strategy formulation?

   • AIncorporate risk analysis into the strategy development process to inform decisions.
   • BAddress risks only after the strategy is approved and implementation begins.
   • CFocus only on opportunities and ignore risks to maintain a positive outlook.
   • DAssign risk management to the IT department to handle after strategy approval.
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6. 50application · medium

   A software development company uses an agile methodology and wants to monitor risks continuously during sprints. Which tool or technique would be most appropriate?

   • AA Kanban board with a dedicated column for risks, reviewed in daily stand-ups.
   • BA formal risk audit conducted annually.
   • CA risk management software that generates reports monthly.
   • DA risk register that is updated only at the end of each project phase.
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