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 4)

Questions 16–20

1. 16application · medium

   A technology company has implemented a new risk management process, but employees are not reporting risks because they fear being blamed for mistakes. What should the organization do to improve risk reporting?

   • AMandate that all employees report risks through their line managers.
   • BLimit risk reporting to the risk management team to reduce the burden on employees.
   • CIncrease the frequency of risk audits to catch unreported risks.
   • DFoster a risk culture that encourages open communication and learning from incidents.
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2. 17foundation · easy

   Which of the following is a common risk associated with digital transformation initiatives?

   • AResistance to change from employees
   • BImproved data security
   • CSimplified IT infrastructure
   • DIncreased customer loyalty
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4. 18foundation · easy

   What is the role of a risk owner in risk management?

   • ATo approve the organization's risk appetite
   • BTo be accountable for managing a specific risk and implementing responses
   • CTo identify all risks in the organization
   • DTo conduct risk assessments for all projects
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5. 19application · medium

   An IT service provider is implementing the ITIL 4 risk management practice. The organization wants to ensure that risk management is integrated into its Service Value System. What should the organization do?

   • ACreate a separate risk management department that operates independently of service management.
   • BEmbed risk management activities into all stages of the service value chain.
   • CApply risk management only to new projects, not to ongoing services.
   • DUse risk management only during incident management to respond to threats.
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6. 20application · medium

   A manufacturing company is considering migrating its ERP system to the cloud. The risk manager has gathered data on potential downtime costs and the probability of service outages from the cloud provider. Which approach should the risk manager use to support the decision?

   • AQuantitative analysis, calculating the expected monetary value of downtime risk.
   • BQualitative analysis, rating the risk as high based on the criticality of the ERP system.
   • CRisk acceptance, since the cloud provider offers a high availability SLA.
   • DRisk transfer, by purchasing cyber insurance to cover potential losses.
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