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 6)

Questions 26–30

1. 26expert · hard

   A software company is developing a new product using agile methods. The product owner wants to release a minimum viable product (MVP) quickly, but the security team has identified a critical vulnerability that could be exploited. The company has a risk appetite that allows for some risk to achieve speed, but this vulnerability could lead to a data breach. What should the company do?

   • ADelay the release until the vulnerability is fully fixed, regardless of the impact on speed.
   • BRelease the MVP and fix the vulnerability in a later sprint, accepting the risk.
   • CAssess the likelihood and impact of the vulnerability being exploited, then decide whether to release or delay.
   • DTransfer the risk by purchasing cyber insurance and release the MVP.
   Reveal Solution Discussion Select an answer first
2. 27foundation · easy

   Which component of the ITIL 4 Service Value System is directly responsible for setting the organization's risk appetite?

   • APractices
   • BGovernance
   • CService value chain
   • DGuiding principles
   Reveal Solution Discussion Select an answer first
4. 28foundation · easy

   In a digital organization, what is the role of a risk management framework?

   • ATo guarantee that all risks are eliminated
   • BTo replace the need for risk assessment tools
   • CTo provide a structured approach for identifying, assessing, and responding to risks
   • DTo assign blame when risks materialize
   Reveal Solution Discussion Select an answer first
5. 29application · medium

   A logistics company is implementing a real-time tracking system for its fleet. The project team has identified a risk that the GPS data feed may be unreliable in remote areas, affecting tracking accuracy. The team has decided to install backup satellite communication devices on the vehicles. Which risk response strategy does this represent?

   • ARisk acceptance, by acknowledging the risk and proceeding without action.
   • BRisk transfer, by outsourcing tracking to a third-party provider.
   • CRisk avoidance, by not using GPS in remote areas.
   • DRisk mitigation, by reducing the likelihood or impact of the risk.
   Reveal Solution Discussion Select an answer first
6. 30foundation · easy

   How does the ITIL 4 risk management practice support digital organization objectives?

   • ABy ensuring that all digital initiatives are risk-free
   • BBy providing a framework for making informed decisions about risks and opportunities
   • CBy delegating risk management to external auditors
   • DBy focusing only on cybersecurity risks
   Reveal Solution Discussion Select an answer first