In the context of digital product and service innovation (DPI), what is the primary role of risk management?

To eliminate all uncertainties that could affect the innovation initiative

To transfer all risks to external partners or insurers

To support value creation by understanding and managing uncertainty that could affect the innovation's outcomes

To ensure that innovation proceeds only when no risk of failure exists

A service provider is aligning its risk management with the governance component of the service value system. They want to ensure that risk decisions are made at the appropriate level of authority. Which action best supports this alignment?

Allowing all employees to accept any risk without oversight.

Defining risk appetite and delegating risk acceptance authority to relevant roles.

Centralizing all risk decisions at the executive level.

Eliminating risk management from governance to speed up decisions.

A digital product team is launching a new feature that requires integration with a legacy system. The team identifies a risk that the integration could cause data corruption. They have limited budget and time. Which risk response is most appropriate?

Implement a data validation and rollback mechanism.

Purchase insurance to cover potential data loss.

Cancel the feature to avoid the risk.

Accept the risk without any action.

In the service value system (SVS), how does risk management support the continual improvement practice?

By preventing any changes to the service value chain

By identifying risks that could affect improvement initiatives and ensuring they are managed

By eliminating the need for improvement assessments

By focusing only on risks that have already materialized

ITIL 4 Strategic Leader

Domain 3Objective 1

Understand the Role of Risk and Risk Management in DPI (1.2.1.3, 2.3, 2.3.1-2) ITIL-4-STRATEGIC-LEADER-MODULES Practice Questions (Page 4)

Part of the Understand the role of Governance, Risk and Compliance (GRC) and know how to integrate the principles and methods into the service value system domain, which makes up ~4% of our current practice bank.

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Questions 16–20

16foundation · easy
In the context of digital product and service innovation (DPI), what is the primary role of risk management?
Select an answer first
17application · medium
A service provider is aligning its risk management with the governance component of the service value system. They want to ensure that risk decisions are made at the appropriate level of authority. Which action best supports this alignment?
Select an answer first
18foundation · easy
Which method is used to identify, analyze, and evaluate risks in a digital innovation project?
Select an answer first
19expert · hard
A digital product team is launching a new feature that requires integration with a legacy system. The team identifies a risk that the integration could cause data corruption. They have limited budget and time. Which risk response is most appropriate?
Select an answer first
20foundation · easy
In the service value system (SVS), how does risk management support the continual improvement practice?
Select an answer first

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