A financial institution is planning to migrate its core banking system to a new platform. The project has a tight deadline and a limited budget. The project manager has identified several risks, including data migration errors and system downtime. What is the best approach to manage these risks?

Accept the risks and proceed with the migration as planned.

Focus only on mitigating data migration errors and ignore downtime risks.

Transfer the risks to the platform vendor through contractual agreements.

Develop a risk response plan that includes mitigation, contingency, and fallback strategies.

In ITIL 4, what is the nature of 'improvement'?

An activity focused solely on reducing costs

A continuous process that drives organizational value and performance

A one-time project to fix a specific issue

A reactive response to customer complaints

Which activity is an example of 'planning' in an organization?

Analyzing customer feedback to identify areas for service improvement

Developing a roadmap with milestones and resource allocation for the next year

Executing daily operational tasks as per standard procedures

Defining the company's core values and long-term vision

A logistics company's board has decided to expand into a new geographic market. The CIO is asked to ensure that the IT department supports this expansion. What is the CIO's primary responsibility in this context?

Conduct a risk assessment of the new market's IT infrastructure.

Translate the board's direction into an IT strategy and roadmap that supports the expansion.

Immediately purchase new hardware and software for the new market.

Delegate the planning to the regional IT managers.

In the context of Direct, Plan & Improve, what is 'risk'?

The impact of a threat on a project

The effect of uncertainty on objectives

The likelihood of a negative event occurring

The probability of failure in a process

ITIL 4 Strategic Leader

Domain 1Objective 1

Understand the Following Key Terms ITIL-4-STRATEGIC-LEADER-MODULES Practice Questions (Page 5)

Part of the Understand the key concepts of Direct, Plan & Improve domain, which makes up ~4% of our current practice bank.

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Questions 21–25

21expert · hard
A financial institution is planning to migrate its core banking system to a new platform. The project has a tight deadline and a limited budget. The project manager has identified several risks, including data migration errors and system downtime. What is the best approach to manage these risks?
Select an answer first
22foundation · easy
In ITIL 4, what is the nature of 'improvement'?
Select an answer first
23foundation · easy
Which activity is an example of 'planning' in an organization?
Select an answer first
24application · medium
A logistics company's board has decided to expand into a new geographic market. The CIO is asked to ensure that the IT department supports this expansion. What is the CIO's primary responsibility in this context?
Select an answer first
25foundation · easy
In the context of Direct, Plan & Improve, what is 'risk'?
Select an answer first

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