Which of the following process ensures that the risk response strategy remains active and that proposed controls are implemented according to schedule?
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A. B. C. D.D.
Risk response tracking tracks the ongoing status of risk mitigation processes as part of risk response process.
This tracking ensures that the risk response strategy remains active and that proposed controls are implemented according to schedule.
When an enterprise is conscious of a risk, but does not have an appropriate risk response strategy, then it leads to the increase of the liability of the organization to adverse publicity or even civil or criminal penalties.
Incorrect Answers: A: Risk management provides an approach for individuals and groups to make a decision on how to deal with potentially harmful situations B: Integrating risk response options to address more than one risk together, help in achieving greater efficiency.
The use of techniques that are versatile and enterprise-wide, rather than individual solutions provides better justification for risk response strategies and related costs.
C: Implementation of risk response ensures that the risks analyzed in risk analysis process are being lowered to level that the enterprise can accept, by applying appropriate controls.
The process that ensures that the risk response strategy remains active and that proposed controls are implemented according to schedule is known as risk response tracking. This process is a critical component of the risk management cycle and is responsible for ensuring that the risk response plan is executed effectively.
Risk response tracking involves the ongoing monitoring of the risks that have been identified, along with the controls that have been implemented to mitigate those risks. It involves tracking the progress of the implementation of risk responses and ensuring that they are effective in reducing or eliminating the identified risks.
The risk response tracking process also involves the identification of any new risks that may emerge during the implementation of the response plan, and the development of new risk responses to address these risks.
Furthermore, it includes regular reporting to stakeholders on the progress of the risk response plan, including any issues or challenges that have been encountered during implementation. It also involves making any necessary adjustments to the plan in response to changes in the risk environment.
The other answer options are also related to risk management processes. Risk management (option A) is the overarching process of identifying, assessing, and prioritizing risks, and then developing and implementing strategies to manage them. Risk response integration (option B) refers to the process of ensuring that the risk response strategy is integrated into the overall project or program plan. Risk response implementation (option C) involves the actual implementation of the risk response strategy, which includes the development and implementation of controls to mitigate the risks.
Therefore, the correct answer to the question is D, risk response tracking.