Isaca IT-Risk-Fundamentals Exam With Confidence Using Practice Dumps

When establishing the risk management context for calculating risk, the formulas and methods for combining impact and likelihood must be consistent with the defined criteria. This ensures that the risk calculations are accurate and meaningful. If the formulas and methods are not consistent, the resulting risk scores may not accurately reflect the true level of risk.

While risk appetite and tolerance (A) are important for overall risk management, they don't directly dictate the formulas for calculation. KRIs and KPIs (C) are used for monitoring, not calculation.

 Communicating Cybersecurity Profile:

When presenting the organization's cybersecurity profile to management, it is crucial to focus on the effectiveness of the security measures in place and their ability to minimize risks.

 Clarity and Relevance:

Statement A ("The probability of a cyber attack varies between unlikely and very likely") is too vague and does not provide actionable information.

Statement B ("Risk management believes the likelihood of a cyber attack is not imminent") lacks specificity and does not detail the measures taken.

 Effectiveness of Security Measures:

Statement C highlights the proactive steps taken to configure security measures to minimize risk. This approach is more likely to instill confidence in management about the current cybersecurity posture.

According to best practices in IT risk management, as outlined in various frameworks such as NIST and ISO 27001, focusing on the effectiveness and configuration of security controls is key to managing cybersecurity risks.

 Conclusion:

Thus, the statement best suited for presentation to management is: Security measures are configured to minimize the risk of a cyber attack.

An IT-related risk assessment enables individuals responsible for risk governance to identify potential high-risk areas. Here’s a detailed explanation:

Define Remediation Plans for Identified Risk Factors: While risk assessments may lead to the development of remediation plans, the primary objective is not to define these plans but to identify where the risks lie.

Assign Proper Risk Ownership: Assigning risk ownership is an important part of risk management, but it follows the identification of risks. The assessment itself is primarily focused on identifying risks rather than assigning ownership.

Identify Potential High-Risk Areas: The core purpose of a risk assessment is to identify and evaluate areas where the organization is exposed to significant risks. This identification process is crucial for prioritizing risk management efforts and ensuring that resources are allocated to address the most critical risks first.

Therefore, the primary purpose of an IT-related risk assessment is to identify potential high-risk areas.