Following a significant change to a business process, a risk practitioner believes the associated risk has been reduced. The risk practitioner should advise the risk owner to FIRST:
Following a significant change to a business process, a risk practitioner believes the associated risk has been reduced. The risk practitioner should advise the risk owner to FIRST:
Following a significant change to a business process, it is crucial to conduct a risk analysis first. This ensures that the practitioner has a clear and updated understanding of the risk landscape post-change. Without a thorough analysis, any subsequent steps, such as updating the risk register or reallocating resources, may be based on incomplete or inaccurate information. Conducting a risk analysis helps to confirm the practitioner's belief that the risk has been reduced and identifies any new risks that may have emerged from the change.
D. update the risk register. The risk practitioner should advise the risk owner to FIRST update the risk register. This is because updating the risk register ensures that the changes to the business process and associated risks are documented accurately and comprehensively. It provides a clear record of the revised risk profile and allows for informed decision-making regarding risk response strategies, resource allocation, and monitoring efforts. Once the risk register is updated, the risk owner can then consider other actions such as reviewing key risk indicators, conducting further risk analysis, or reallocating risk response resources as necessary.
Following a significant change to a business process, a risk practitioner believes the associated risk has been reduced. The risk practitioner should advise the risk owner to FIRST: A. reallocate risk response resources B. review the key risk indicators C. conduct a risk analysis D. update the risk register
Agree with C. After a change, analyze what the situation is before taking other actions.