Risk Monitoring and Reporting

Question 1

What is Risk Monitoring?

Answer 1

Involves continuous tracking identified risks, assessing new risks, executing response plans, and evaluating their effectiveness during a project’s life cycle

Question 2

What is Residual Risk?

Answer 2

Likelihood and impact after implementing mitigation, transference, or acceptance measures on the initial risk

Question 3

What is a Control Risk?

Answer 3

Assessment of how a security measure has lost effectiveness over time

Question 4

What is RIsk Reporting?

Answer 4

Process of communicating information about risk management activities

Question 5

What is Risk Monitoring and Reporting essential for?

Answer 5

■ Informed decision making
■ Risk mitigation
■ Stakeholder communication
■ Regulatory compliance

Question 6

What is Informed decision making?

Answer 6

Offer insights for informed decisions on resource allocation, project timelines, and strategic planning

Question 7

What is Risk Mitigation?

Answer 7

Recognizes when a risk is escalating so it can be mitigated before becoming an issue

Question 8

What is Stakeholder Communication?

Answer 8

Assist in setting expectations and showing effective risk management

Question 9

What is Regulatory Compliance?

Answer 9

Demonstrate compliance with these regulations