You are the risk professional in Bluewell Inc.
A risk is identified and enterprise wants to quickly implement control by applying technical solution that deviates from the company's policies.
What you should do?
Click on the arrows to vote for the correct answer
A. B. C. D.C.
If it is necessary to quickly implement control by applying technical solution that deviates from the company's policies, then risk assessment should be conducted to clarify the risk.
It is up to the management to accept the risk or to mitigate it.
Incorrect Answers: A: As in this case it is important to mitigate the risk, hence risk professional should once recommend a risk assessment.
Though the decision for the conduction of risk assessment in case of violation of company's policy, is taken by management.
B: The recommendation to revise the current policy should not be triggered by a single request.
D: Risk professional can only recommend the risk assessment if the company's policies is violating, but it can only be conducted when the management allows.
As a risk professional in Bluewell Inc., when a risk is identified, it is essential to follow the proper risk management process to ensure that the risk is appropriately addressed. In this scenario, the enterprise wants to implement a technical solution that deviates from the company's policies, and the best course of action would be to conduct a risk assessment before making a decision.
Option A, recommending against implementation because it violates the company's policies, may not be the best solution in this scenario, as it does not consider the potential impact of the risk and the benefits of the proposed technical solution.
Option B, recommending the revision of the current policy, may be an appropriate solution if the current policy is outdated and does not reflect the current risk landscape. However, revising a policy may take time, and it may not be the best solution if the risk needs to be addressed urgently.
Option C, recommending a risk assessment and subsequent implementation only if the residual risk is accepted, is a viable solution. Conducting a risk assessment would allow for a better understanding of the potential impact of the risk and the effectiveness of the proposed technical solution. If the residual risk is deemed acceptable, then the implementation of the technical solution may proceed.
Option D, conducting a risk assessment and allowing or disallowing based on the outcome, is the best solution as it considers the potential impact of the risk and the effectiveness of the proposed technical solution. By conducting a risk assessment, it is possible to determine the likelihood and impact of the risk, evaluate the effectiveness of the proposed technical solution, and make an informed decision based on the outcome of the risk assessment.
In conclusion, when a risk is identified, it is essential to follow the proper risk management process, which involves conducting a risk assessment and making an informed decision based on the outcome of the assessment. In this scenario, option D, conducting a risk assessment and allowing or disallowing based on the outcome, would be the best course of action.