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Risk scenarios should reflect probable events to ensure relevance and practicality in risk assessments. This guidance supports theRisk Identification and Scenario Developmentprocess.

Updating the risk likelihood in the risk register is appropriate when an improved control, such as an automated interface, is implemented. This change affects the probability of the risk occurring, thus reflecting the enhanced control environment.

A decision tree is a technique that can be used during a risk assessment to demonstrate to stakeholders that all known alternatives were evaluated. A decision tree is a graphical tool that shows the possible outcomes and consequences of different choices or actions in a sequential and hierarchical manner. A decision tree can help to compare and contrast the alternatives based on their expected values, costs, benefits, and risks, as well as to identify the optimal or preferred alternative that maximizes the value or minimizes the risk. A decision tree can also help to communicate and explain the rationale and assumptions behind the decision-making process to the stakeholders. The other options are not the best techniques to demonstrate to stakeholders that all known alternatives were evaluated, although they may be useful and complementary. A control chart is a technique that monitors the performance and quality of a process or activity over time by plotting the data points and the control limits. A control chart can help to detect and analyze the variations or deviations from the expected or desired results, as well as to identify and correct the causes or sources of the variations. A sensitivity analysis is a technique that measures the impact ofchanges in one or more variables or parameters on the outcome or result of a model or a system. A sensitivity analysis can help to assess the uncertainty or variability of the outcome or result, as well as to determine the most influential or critical variables or parameters that affect the outcome or result. A trend analysis is a technique that examines the patterns or movements of data or information over time by using statistical or graphical methods. A trend analysis can help to forecast or predict the future behavior or direction of the data or information, as well as to identify and explain the factors or drivers that influence the data or information. References = CRISC Review Manual, pages 38-391; CRISC ReviewQuestions, Answers &Explanations Manual, page 922; Risk Assessment and Analysis Methods: Qualitative and Quantitative - ISACA3; Risk Assessment: Process, Examples, & Tools | SafetyCulture4

 Risk monitoring is the process of tracking and evaluating the performance and effectiveness of the risk management process and controls, and identifying any changes or emerging risks that may affect theenterprise’s objectives and strategy. The primary benefit of risk monitoring is that it facilitates risk-aware decision making, as it provides timely and relevant information and feedback to the decision-makers and stakeholders, and enables them to adjust the risk strategy and response actions accordingly. Risk monitoring also helps to ensure that the risk management process is aligned with the enterprise’s risk appetite and tolerance, and supports the achievement of the enterprise’s goals and value creation. References = ISACA Certified in Risk and Information Systems Control (CRISC) Certification Exam Question and Answers, Question 239. CRISC: Certified in Risk & Information Systems Control Sample Questions, Question 239. CRISC Sample Questions 2024, Question 239.