What should be considered while developing obscure risk scenarios? Each correct answer represents a part of the solution.
Choose two.
Click on the arrows to vote for the correct answer
A. B. C. D.AD.
The enterprise must consider risk that has not yet occurred and should develop scenarios around unlikely, obscure or non-historical events.
Such scenarios can be developed by considering two things: -> Visibility -> Recognition For the fulfillment of this task enterprise must: -> Be in a position that it can observe anything going wrong -> Have the capability to recognize an observed event as something wrong.
When developing obscure risk scenarios, there are several factors that must be considered to ensure that the scenarios accurately represent potential risks to an organization. Two of the most important considerations are controls and assessment methods.
Controls: It is important to consider controls when developing obscure risk scenarios because controls are the measures an organization takes to mitigate risks. When considering controls, it is important to assess whether the controls are adequate to mitigate the risk in the scenario. In other words, are there controls in place that can prevent or minimize the impact of the risk? Additionally, it is important to consider the potential for control failures or weaknesses that could increase the likelihood or impact of the risk.
Assessment methods: Another important consideration when developing obscure risk scenarios is the assessment method used to identify and evaluate risks. The assessment method should be robust and capable of identifying obscure risks that may not be immediately apparent. It should also be capable of evaluating the potential impact of those risks. It is important to use a combination of assessment methods, such as interviews, document reviews, and simulations, to ensure a comprehensive evaluation of risks.
Visibility: While visibility may seem like an important consideration, it is not as critical as the other two options. Visibility refers to the extent to which a risk is visible or known to an organization. While obscure risks may not be immediately visible, they can still pose a significant threat to an organization. Therefore, it is important to focus on controls and assessment methods when developing obscure risk scenarios.
Recognition: Recognition is also not as important as controls and assessment methods when developing obscure risk scenarios. Recognition refers to the ability of an organization to recognize a risk when it occurs. While this is important, it is not as critical as the ability to prevent or mitigate the risk in the first place. Therefore, controls and assessment methods should be the primary focus when developing obscure risk scenarios.