CRISC Exam Dumps - Certified in Risk and Information Systems Control

The best way to mitigate the risk to IT infrastructure availability is to establish a disaster recovery plan (DRP), because a DRP is a document that defines the procedures and resources needed to restore the IT infrastructure and resume the critical business functions in the event of a disaster or disruption. A DRP helps to minimize the downtime, data loss, and financial impact of a disaster, and ensures the continuity of operations and services. The other options are not the best ways to mitigate the risk to IT infrastructure availability, although they may also be helpful in supporting the DRP. Establishing recovery time objectives (RTOs), maintaining a current list of staff contact details, and maintaining a risk register are examples of planning or monitoring activities that aim to define the requirements, roles, and responsibilities for the disaster recovery process, but they do not address the actual implementation or execution of the DRP. References = CRISC: Certified in Risk & Information Systems Control Sample Questions

Risk assessments are most effective when performed at each stage of the system development life cycle (SDLC). The SDLC is a framework that defines the phases and activities of developing, implementing, and maintaining a system. The SDLC typically consists of the following stages: initiation, planning, analysis, design, development, testing, implementation, and maintenance. Performing risk assessments at each stage of the SDLC helps to identify, analyze, and evaluate the risks that could affect the system objectives, requirements, functionality, quality, or performance. Performing risk assessments at each stage of the SDLC also helps to select and implement the appropriate risk responses, such as avoiding, transferring, mitigating, or accepting the risks. Performing risk assessments at each stage of the SDLC also helps to monitor and report the risk status and performance, and to update and adjust the risk assessment and response as the system changes or evolves. Performing risk assessments before system development begins, at system development, or during the development of the business case are not as effective as performing risk assessments at each stage of the SDLC, as they are either too early or too late, and they do not capture the full scope and complexity of the system risks. References = CRISC Review Manual, 6th Edition, ISACA, 2015, page 49.

The primary goal of conducting a business impact analysis (BIA) as part of an overall continuity planning process is to identify critical business processes and the degree of reliance on support services. A BIA is a process of assessing the potential impact and consequences of a disruption or interruption of the business activities, operations, or functions. A continuity planning process is a process of developing, implementing, and maintaining a plan to ensure the continuity and recovery of the business activities, operations, or functions in the event of a disruption or interruption. The primary goal of conducting a BIA is to identify critical business processes and the degree of reliance on support services, which are the business processes that are essential for the survival and success of the business, and the support services that are required to enable or facilitate the critical business processes, such as IT systems, human resources, facilities, or suppliers. Identifying critical business processes and the degree of reliance on support services helps to determine the priorities and requirements for the continuity and recovery of the business activities, operations, or functions, and to select and implement the appropriate continuity and recovery strategies and solutions. Obtaining the support of executive management, mapping the business processes to supporting IT and other corporate resources, and documenting the disaster recovery process are not the primary goals of conducting a BIA, as they are either the benefits or the outputs of the BIA process, and they do not address the primary need of assessing the impact and consequences of the business disruption or interruption. References = CRISC Review Manual, 6th Edition, ISACA, 2015, page 50.

 The first course of action for a risk practitioner when an organization plans to adopt a cloud computing strategy is to perform a controls assessment. This means evaluating the existing controls in the organization and the cloud service provider, and identifying the gaps and weaknesses that need to be addressed. A controls assessment can help to determine the level of risk exposure and the suitability of the cloud service model and provider for the organization’s needs and objectives. It can also help to establish the baseline for monitoring and reporting on the cloud service performance and compliance. References = Risk and Information Systems Control Study Manual, Chapter 5, Section 5.3.2.2, p. 242-243

The most important objective of establishing an enterprise risk management (ERM) function within an organization is to have a unified approach to risk management across the organization. An ERM function is a centralized and coordinated function that oversees and supports the risk management activities of the organization, such as risk identification, assessment, response, monitoring, and reporting. An ERM function helps to ensure that the risk management process is consistent, comprehensive, and integrated with the organization’s strategy, objectives, and culture. An ERM function also helps to align the risk management activities with the organization’s risk appetite and tolerance, and to provide a holistic view of the organization’s risk profile and exposure. References = Risk and Information Systems Control Study Manual, 7th Edition, Chapter 1, Section 1.1.1, page 131

IT risk scenarios are hypothetical situations that describe how IT-related risks can affect the organization’s objectives, operations, or assets1. IT risk scenarios help to make IT risk more concrete and tangible, and to enable proper risk analysis and assessment2. IT risk scenarios are developed after IT risks are identified, and are used as inputs for risk analysis, where the frequency and impact of the scenarios are estimated3.

The most important factor to the successful development of IT risk scenarios is threat and vulnerability analysis. Threat and vulnerability analysis is the process of identifying and evaluating the potential sources and causes of IT risks, such as malicious actors, natural disasters, human errors, or technical failures4. Threat and vulnerability analysis can help to:

Define the scope and boundaries of the IT risk scenarios, and ensure that they are relevant and realistic

Identify the critical assets, processes, or functions that are exposed or affected by the IT risks, and assess their value and importance to the organization

Determine the likelihood and methods of the threat events, and the existing or potential weaknesses or gaps in the IT control environment

Estimate the potential consequences and impacts of the IT risks, such as financial losses, operational disruptions, reputational damages, or compliance violations5

References = IT Scenario Analysis in Enterprise Risk Management - ISACA, IT Risk Scenarios - Morland-Austin, Threat and Vulnerability Analysis - Wikipedia, Threat and Vulnerability Analysis - ISACA

The greatest challenge when implementing a corporate risk framework for a global organization is the management support. A corporate risk framework is a set of principles, policies, standards, and processes that guide and govern the risk management activities across the organization. A corporate risk framework helps to establish a consistent and integrated approach to risk management, and to align the risk management objectives and strategies with the business goals and values. Implementing a corporate risk framework for a global organization requires the management support, which is the commitment, involvement, and endorsement of the senior management and the board. Management support is essential for providing the vision, direction, and resources for the risk management initiatives, and for ensuring the accountability, responsibility, and ownership of the risk management roles and functions. Management support is also critical for creating and sustaining a risk-aware culture, and for promoting the risk management awareness and communication among the stakeholders. Management support can be challenging to obtain and maintain, especially for a global organization, as it may face various barriers, such as different expectations, priorities, preferences, or perspectives of the management, lack of trust or confidence in the risk management value or performance, resistance to change or innovation, or competing interests or agendas. Privacy risk controls, business continuity, and risk taxonomy are not as challenging as management support, as they are the components or outcomes of the corporate risk framework, and they can be addressed or improved by applying the appropriate methods, techniques, or tools. References = CRISC Review Manual, 6th Edition, ISACA, 2015, page 35.

The business process owner is the person or entity that has the accountability and authority to manage a business process and its outcomes. The business process owner would be the most appropriate owner of the risk associated with an IT control gap in a key process, as they are responsible for ensuring that the process meets its objectives and delivers value to the enterprise. The business process owner should also ensure that the process is aligned with the enterprise’s strategy and risk appetite, and that the process risks are identified, assessed, and mitigated effectively. References = ISACA Certified in Risk and Information Systems Control (CRISC) Certification Exam Question and Answers, Question 247. CRISC: Certified in Risk & Information Systems Control Sample Questions, Question 247. CRISC Sample Questions 2024, Question 247. CRISC by Isaca Actual Free Exam Q&As, Question 9.