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 9)

Questions 41–45

1. 41expert · hard

   A multinational corporation is implementing a new risk management framework. The board wants to ensure that risk management is proportionate to the level of risk and that it supports decision-making. However, some business units are resisting because they feel the framework is too bureaucratic. What should the organization do to address this?

   • AEliminate the framework and rely on the intuition of experienced managers.
   • BMake risk management optional for business units that do not see value in it.
   • CApply the same level of risk management rigor to all business units to ensure consistency.
   • DTailor risk management activities to the risk profile and needs of each business unit.
   Reveal Solution Discussion Select an answer first
2. 42foundation · easy

   What is the relationship between risk management and compliance?

   • ARisk management and compliance are unrelated activities
   • BCompliance eliminates the need for risk management
   • CCompliance is only concerned with external regulations, not internal policies
   • DRisk management ensures compliance with laws, regulations, and internal policies
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4. 43application · medium

   A bank has a risk management process that has been in place for several years. The risk manager notices that the process is becoming outdated because new digital services are introducing new risks. What should the risk manager do to keep the process effective?

   • AFocus only on the risks that have occurred in the past.
   • BReplace the risk management process with a new one every year.
   • CApply continual improvement to the risk management process to adapt to new risks.
   • DKeep the process unchanged because it has worked well in the past.
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5. 44foundation · easy

   How can continual improvement be applied to risk management processes?

   • ABy keeping risk management processes unchanged to ensure consistency
   • BBy outsourcing risk management to external experts
   • CBy periodically reviewing and enhancing risk management activities based on lessons learned
   • DBy focusing only on improving risk identification techniques
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6. 45application · medium

   A healthcare provider is planning to introduce a patient portal that will allow patients to access their medical records online. The project team wants to identify potential risks early in the project. Which technique would be most effective for this purpose?

   • AReviewing the project budget to identify cost overrun risks.
   • BBrainstorming sessions with a cross-functional team including clinicians, IT, and legal.
   • CConsulting only the IT security team for potential cyber risks.
   • DSWOT analysis, focusing on the organization's internal strengths and weaknesses.
   Reveal Solution Discussion Select an answer first