The Primary Advantage of Implementing an IT Risk Management Framework

B.

The correct answer is D: establishment of a reliable basis for risk-aware decision making.

An IT risk management framework is a structured approach to identifying, assessing, and managing risks related to information technology within an organization. It provides a set of processes, procedures, and tools to help an organization manage its risks and ensure the confidentiality, integrity, and availability of its information.

The primary advantage of implementing an IT risk management framework is the establishment of a reliable basis for risk-aware decision making. This means that by implementing a framework, an organization can identify and assess potential risks and their potential impact on the organization's objectives, and make informed decisions about how to manage those risks.

By establishing a framework for managing IT risks, an organization can:

1. Identify potential risks: The framework provides a structured approach to identifying and assessing risks, ensuring that all potential risks are considered.

2. Assess the potential impact of risks: The framework provides a method for assessing the potential impact of risks on the organization's objectives.

3. Prioritize risks: The framework allows an organization to prioritize risks based on their potential impact and likelihood of occurrence.

4. Develop risk management strategies: The framework provides a method for developing strategies to manage risks, such as mitigation, avoidance, acceptance, or transfer.

5. Monitor and review risks: The framework provides a process for monitoring and reviewing risks to ensure that they are managed effectively.

Overall, the establishment of a reliable basis for risk-aware decision making is the primary advantage of implementing an IT risk management framework, as it enables an organization to make informed decisions about how to manage its risks and ensure the security and integrity of its information.