Explanation/Reference:
Explanation:
The inputs to the plan risk management process are as follows:
Project scope statement: It provides a clear sense of the range of possibilities associated with the

project and establishes the framework for how significant the risk management effort may become.
Cost management plan: It describes how risk budgets, contingencies, and management reserves will

be reported and accessed.
Schedule management plan: It describes how the schedule contingencies will be reported and

assessed.
Communication management plan: It describes the interactions, which occurs on the project and

determines who will be available to share information on various risks and responses at different times.
Enterprise environmental factors: It include, but are not limited to, risk attitudes and tolerances that

describe the degree of risk that an organization withstand.
Organizational process assets: It includes, but are not limited to, risk categories, risk statement formats,

standard templates, roles and responsibilities, authority levels for decision-making, lessons learned, and stakeholder registers.
Incorrect Answers:
A: It is not an input for Plan risk management process.

Data usage exceeding individual consent presents the greatest risk to the organization’s reputation, as it
violates the privacy and trust of the customers and exposes the organization to legal and regulatory liabilities.
Customers have the right to know and control how their personal data is collected, processed, and shared by
the organization, and they expect the organization to respect their preferences and comply with the applicable
laws and standards. If the organization uses the data for purposes beyond the scope of the consent, or without
obtaining the consent in the first place, it may damage its reputation and lose its customers’ loyalty and
confidence. Third-party software used for data analytics, revenue generated from data analytics, and use of a
data analytics system are not inherently risky to the organization’s reputation, as long as they are transparent,
secure, and ethical. References = Most Asked CRISC Exam Questions and Answers – The Knowledge
Academy; ISACA Certified in Risk and Information Systems Control (CRISC) Certification Exam Question
and Answers, question 203.

Residual risk is the amount of risk that remains after the implementation of risk mitigation controls. If the fraud detection controls in an online payment system do not perform as expected, the residual risk will most likely change as a result, because the controls will not be able to reduce the impact or likelihood of the fraud risk as intended. The residual risk may increase or decrease depending on the performance of the controls, and the risk practitioner may need to adjust the risk response strategy accordingly. The other options are not as likely to change as the residual risk, because they are not directly affected by the performance of the controls, but rather depend on other factors, such as the source of the risk, the organization’s objectives, or the external environment, as explained below:
A: Impact is the extent or magnitude of the harm or loss caused by a risk. The impact of the fraud risk in an online payment system may not change as a result of the controls’ performance, becausethe impact is determined by the potential consequences of the fraud, such as financial losses, reputational damage, or legal liabilities, which are independent of the controls.
C: Inherent risk is the amount of risk that exists before the implementation of any risk mitigation controls. The inherent risk of the fraud risk in an online payment system may not change as a result of the controls’ performance, because the inherent risk is determined by the nature and characteristics of the risk, such as the type, source, or frequency of the fraud, which are independent of the controls.
D: Risk appetite is the amount and type of risk that an organization is willing to accept in pursuit of its objectives. The risk appetite of the organization may not change as a result of the controls’ performance, because the risk appetite is determined by the organization’s strategy, culture, and values, which are independent of the controls. References = Risk and Information Systems Control Study Manual, Chapter 2, Section 2.1.1, page 32. What is Residual Risk? Definition, Examples, and More, Residual Risk: Definition, Formula & Management – Video & Lesson Transcript | Study.com, Residual Risk: What It Is and How to Manage It

Monitoring control effectivenesscan be done by all lines to varying degrees. The first line monitors during execution, the second provides oversight, and the third provides independent assurance.
Reference:CRISC Manual – Domain 1, Slide 44-47

The greatest risk to change control in business application development over the complete life cycle is the introduction of requirements that have not been approved. Requirements are the specifications or expectations of the business users or stakeholders for the application, such as the features, functions, or performance1. Change control is the process of identifying, evaluating, approving, and implementing changes to the application, such as the design, code, or configuration2. By introducing requirements that have not been approved, the organization can face significant risks, such as:
* Scope creep, which is the uncontrolled or unauthorized expansion of the project scope, and can result in increased costs, delays, or errors3.
* Quality issues, which can affect the reliability, usability, or security of the application, and can lead to defects, failures, or breaches4.
* Stakeholder dissatisfaction, which can arise from the mismatch or inconsistency between the delivered application and the expected application, and can cause complaints, disputes, or litigation5.
The other options are not the greatest risk to change control, because:
* Emphasis on multiple application testing cycles is not a risk, but rather a benefit or a best practice for change control, as it can help to ensure that the application meets the requirements and standards, and that the changes are effective and efficient.
* Lack of an integrated development environment (IDE) tool is a challenge, but not a risk, for change control, as it can affect the productivity, collaboration, or integration of the developers, and can cause
* difficulties or inefficiencies in the development process. However, it does not directly affect the requirements or the quality of the application, and it can be overcome by using other tools or methods.
* Bypassing quality requirements before go-live is a risk, but not the greatest risk, for change control, as it can compromise the quality or performance of the application, and can expose the organization to errors, failures, or breaches. However, it is less likely or frequent than introducing requirements that have not been approved, and it can be detected or prevented by using quality assurance or quality control techniques.
References =
* Requirements – CIO Wiki
* Change Control – CIO Wiki
* Scope Creep – CIO Wiki
* Quality – CIO Wiki
* Stakeholder Management – CIO Wiki
* [Software Testing – CIO Wiki]
* [Integrated Development Environment (IDE) – CIO Wiki]
* [Quality Requirements – CIO Wiki]
* [Software Development Life Cycle – CIO Wiki]

= Change management is the process of planning, implementing, and monitoring changes to IT systems,
services, or infrastructure in a controlled and coordinated manner1. Change management controls are the
policies, procedures, and tools that ensure changes are authorized, documented, tested, and reviewed before
they are deployed to the production environment2.
Change-related exceptions are the deviations or violations from the established change management controls,
such as unauthorized, untested, or failed changes3. Change-related exceptions pose a high risk to
theorganization, as they can cause system instability, performance degradation, security breaches, data loss, or
compliance issues3.
An increase in change-related exceptions per month would be the greatest concern for an IT risk practitioner,
as it indicates a lack of effectiveness, efficiency, or compliance of the change management process and
controls. An increase in change-related exceptions per month could result from:
Poor change planning, prioritization, or scheduling
Insufficient change approval, review, or communication
Inadequate change testing, validation, or verification
Lack of change monitoring, reporting, or auditing
Low change awareness, training, or support
An IT risk practitioner should investigate the root causes of the increase in change-related exceptions per
month, and recommend corrective and preventive actions to improve the change management process and
controls, such as:
Aligning the change management process with the organization’s goals, strategies, and risk appetite
Implementing a standardized and consistent change management methodology, such as ITIL or COBIT
Defining clear roles and responsibilities for change management stakeholders, such as change owners, change
managers, change advisory boards, change implementers, and change users
Establishing clear and measurable criteria and thresholds for change authorization, classification, and
evaluation
Leveraging tools and technologies to automate and streamline the change management process and controls,
such as change management software, configuration management databases, or change management
dashboards
Enhancing the change management culture and capabilities, such as change management awareness, training,
support, or feedback
The other options are not as concerning as an increase in change-related exceptions per month, because they
do not directly imply a risk to the organization’s IT systems, services, or infrastructure. Rolled backchanges
below management’s thresholds, which are the changes that are reversed or undone due to errors, defects, or
issues, may indicate a need for improvement in the change testing, validation, or verification processes, but
they do not necessarily cause harm or damage to the production environment, as long as they are within the
acceptable limits set bythe management. The average implementation time for changes, which is the duration
of the change deployment process, may affect the organization’s agility, efficiency, or productivity, but it
does not necessarily compromise the quality, security, or reliability of the changes, as long as they are
implemented according to the change management controls. The number of user stories approved for
implementation, which are the requirements or features that are expressed from the perspective of the end
users, may reflect the organization’s demand, innovation, or customer satisfaction, but it does not necessarily
increase the risk of the changes, as long as they are managed and controlled by the change management
process.
References = What is Change Management? | ITIL | AXELOS, Change Management Controls: Definition,
Types, and Best Practices, Change Management Exceptions: Definition, Causes, and Impacts, ITIL Change
Management: Best Practices & Processes – BMC Software, COBIT 2019: Change Enablement

The most important information to cover in a business continuity awareness training program for all
employees of the organization is the communication plan. A communication plan is a document that defines
the roles, responsibilities, procedures, and resources for communicating with the internal and external
stakeholders before, during, and after a business continuity event. A communication plan helps to ensure that
the relevant and accurate information is delivered to the appropriate parties in a timely and consistent manner,
and that the feedback and responses are received and addressed accordingly. A communication plan also helps
to maintain the trust, confidence, and reputation of the organization, and to comply with the legal or
regulatory requirements. A communication plan is the most important information to cover in a business
continuity awareness training program, because it helps to prepare and educate the employees on how to
communicate effectively and efficiently in a business continuity event, and how to avoid or minimize the
communication errors, gaps, or conflicts that could affect the business continuity performance and recovery.
The other options are not as important as the communication plan, although they may also be covered in a
business continuity awareness training program. Recovery time objectives (RTOs), segregation of duties, and
critical asset inventory are all factors that could affect the business continuity planning and implementation,
but they are not the most important information to cover in a business continuity awareness training
program. References = 6

According to the CRISC Review Manual1, stakeholders are the individuals or groups that have an interest or stake in the outcome of the IT system and its risks. Stakeholders include the system owners, users, operators, developers, managers, auditors, regulators, and customers. It is most important to ensure that agreement is obtained from stakeholders when testing the security of an IT system, as this helps to define the scope, objectives, and expectations of the test, and to obtain the necessary authorization, support, and resources for the test. Agreement from stakeholders also helps to avoid any conflicts, disruptions, or misunderstandings that may arise during or after the test, and to ensure the validity and acceptance of the test results and recommendations. References = CRISC Review Manual1, page 198, 224.

Section: Volume D

Explanation/Reference:
Explanation:
Risk management is an ongoing project activity. It should be an agenda item at every project status meeting.
Incorrect Answers:
A: Risk management happens throughout the project as does project planning.
B: Milestones are good times to do reviews, but risk management should happen frequently.
C: This answer would only be correct if the project has a status meeting just once per month in the project.

Section: Volume D

Section: Volume D

Utilizing secure encryption protocols is the most important factor to mitigate risk associated with data
privacy when implementing a new Software as a Service (SaaS) speech-to-text solution, as it ensures that the
data is protected from unauthorized access, interception, or modification during the transmission and storage
in the cloud. Setting up multi-factor authentication for users, approving the solution architecture by IT, and
including a risk transfer clause in the contract are not the most important factors, as they may not address the
data privacy issue, but rather the data access, quality, or liability issue, respectively. References = CRISC
Review Manual, 7th Edition, page 153.

Change requests must be documented to be considered. Alice should create a change request form and follow the procedures of the change control system.