Short Answer Questions – Answer the following questions as briefly as possible w
ID: 3870300 • Letter: S
Question
Short Answer Questions – Answer the following questions as briefly as possible while being accurate of course, i.e., address the point precisely. Typically one to two sentences will suffice. Some of these questions are designed to help you recall content from the past two weeks as well.
1. What is the goal or objective of an IT risk management plan?
2. Define what risk planning is.
3. What is the first step in performing risk management?
4. What is the exercise called when you are trying to identify an organization’s risk health?
5. What practice helps reduce or eliminate risk?
6. What on- going practice helps track risk in real- time?
7. Within the seven domains of a typical IT infrastructure, which domain is the most difficult to plan, identify, assess, remediate, and monitor?
8. How does risk mitigation impact change control management and vulnerability management?
Multiple Choice Questions
1. Which of the following is not one of the objectives of a risk management plan?
a. Create a list of threats
b. Create a list of vulnerabilities
c. Identify costs
d. Eliminate risk
2. Which portion of a risk management plan explains the extent to which the plan will be organized and carried out?
a. Introduction
b. Scope
c. Assignment
d. Schedule
3. What is an unwanted result of uncontrolled changes in a project?
a. Reduced budget
b. Scope creep
c. Shorter schedule
d. Increased benefits
4. A risk management project manager has identified a problem within a risk management plan. The project manager (PM) realizes one of the controls is ineffective and has identified a better alternative. What should the PM do?
a. Implement the better control
b. Halt the project
c. Work with a stakeholder to identify a plan of action
d. Rewrite the plan
5. Projects will typically have an individual that has a key interest the success of a project and has the authority to make decisions to provide additional resources. What is this person called?
a. Project manager
b. Information owner
c. Data owner
d. Stakeholder
6. Of the following choices, what is not a responsibility of a project manager for a risk management plan?
a. Ensuring costs are controlled
b. Ensuring the project stays on schedule
c. Ensuring the project stays within scope
d. Ensuring team members do not work on other projects
7. A risk management team decides to identify threats, vulnerabilities, and recommendations using an affinity diagram. Which of the following is not one of the basic steps used to create an affinity diagram?
a. Create a problem statement
b. Identify unacceptable suggestions
c. Generate ideas
d. Mitigate risks
8. You have completed the calculations for a cost-benefit analysis. The costs of a control are greater than the benefits of a control. What is the most likely recommendation for this control?
a. Implement the control.
b. Accept the risk.
c. Recalculate the data.
d. Perform a return on investment analysis.
9. You have completed the calculations for a cost-benefit analysis. The costs of a control are less than the benefits of a control. What is the most likely recommendation for this control?
a. Implement the control.
b. Accept the risk.
c. Recalculate the data.
d. Perform a return on investment analysis.
10. After receiving the response from management on recommended controls, you begin creating an implementation plan. What would you create that can help you track progress, assign responsibility, and provide documentation compliance requirements?
a. Gantt chart
b. Critical path chart
c. Milestone plan chart
d. POAM
Explanation / Answer
1. A risk management plan is made by the project manager to calculate the risks involved in developing a project and the possible solutions for the problems.
2. Risk planning involves planning for the occurrence of potential risks and finding solutions that reduce the likehood of the occurrence of the risk and possible ways of facing the risk of the situation occurs.
3. the first step in risk management process is " To identify all the risks involved in developing a project".
4. Risk assessment is the name of the exercise that identifies an organisations risk health. Risk assesment is a process that involves evaluating the potential risks involved in developing a project .
5. Risk mitigation is the process of reducing adverse affects of risks
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