Risk Management Fundamentals

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Questions and Answers

What is the primary goal of risk management?

  • To identify potential threats
  • To analyze business impacts
  • To identify mission-essential functions (correct)
  • To identify risk response options

What are the key factors used to assess risk?

  • The likelihood of an incident, the cost of deploying additional security controls, and the impact of the incident
  • The likelihood of an incident, the cost of deploying additional security controls, and the probability of a vulnerability being activated
  • The likelihood of an incident, the cost of deploying additional security controls, and the probability of a vulnerability being activated as a security incident (correct)
  • The likelihood of an incident, the cost of deploying additional security controls, and the probability of a vulnerability being activated as a mission-essential function

What is typically involved in risk management?

  • Identifying, assessing, and mitigating risk to protect mission-essential functions (correct)
  • Identifying, assessing, and mitigating risk to protect vulnerable functions
  • Identifying, assessing, and mitigating risk to protect mission-essential vulnerabilities
  • Identifying, assessing, and mitigating risk to protect vulnerable threats

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Study Notes

  • Risk management requires identifying mission-essential functions and vulnerabilities, identifying threats, analyzing business impacts, and identifying risk response options.
  • The key factors used to assess risk include the likelihood of a vulnerability being activated as a security incident, the impact of that incident, and the cost of deploying additional security controls.
  • Risk management typically involves identifying, assessing, and mitigating risk to protect mission-essential functions.

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