The Most Effective Use of a Risk Register

C.

A risk register is more than a simple list " it should lie used as a tool to ensure comprehensive documentation, periodic review and formal update of all risk elements in the enterprise's IT and related organization.

Identifying risks and assigning roles and responsibilities for mitigation are elements of the register.

Identifying threats and probabilities are two elements that are defined in the risk matrix, as differentiated from the broader scope of content in, and purpose for, the risk register.

While the annualized loss expectancy (ALE) should be included in the register, this quantification is only a single element in the overall risk analysis program.

A risk register is a document or tool that is used to record and manage risks within an organization. It is a valuable tool for tracking risks, assigning responsibilities, and monitoring progress in mitigating risks.

The most effective use of a risk register is to facilitate a thorough review of all IT-related risks on a periodic basis. This means that the risk register should be used to regularly review and update the organization's risks, assess their likelihood and potential impact, and identify appropriate measures to manage them. This approach is in line with the risk management process, which involves identifying, assessing, and mitigating risks.

While identifying risks and assigning roles and responsibilities for mitigation (answer A) is important, it is not the most effective use of a risk register. This is because it focuses solely on the initial stages of risk management, and does not include ongoing monitoring and review of risks.

Identifying threats and probabilities (answer B) is also important, but it is not the most effective use of a risk register. This is because it only focuses on the likelihood of specific risks occurring, without taking into account their potential impact or the measures that can be taken to manage them.

Recording the annualized financial amount of expected losses due to risks (answer D) is also important, but it is not the most effective use of a risk register. This is because it only focuses on the financial impact of risks, and does not take into account other factors, such as reputational damage or regulatory compliance issues.

In summary, the most effective use of a risk register is to facilitate a thorough review of all IT-related risks on a periodic basis. This includes identifying, assessing, and mitigating risks, as well as monitoring and reviewing progress over time.