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(ISC)2

CGRC · Question #407

Gary is the project manager of his organization. He is managing a project that is similar to a project his organization completed recently. Gary has decided that he will use the information from the…

The correct answer is A. The checklist analysis approach is fast but it is impossible to build and exhaustive checklist. While using a checklist analysis approach for risk identification is efficient and leverages past experience, its main limitation is the inherent difficulty of creating an exhaustive checklist that covers all potential risks for a new project. This means new or unique risks…

Security and Privacy Governance, Risk Management, and Compliance Program

Question

Gary is the project manager of his organization. He is managing a project that is similar to a project his organization completed recently. Gary has decided that he will use the information from the past project to help him and the project team to identify the risks that may be present in the project. Management agrees that this checklist approach is ideal and will save time in the project. Which of the following statement is most accurate about the limitations of the checklist analysis approach for Gary? Response:

Options

  • AThe checklist analysis approach is fast but it is impossible to build and exhaustive checklist.
  • BThe checklist analysis approach only uses qualitative analysis.
  • CThe checklist analysis approach saves time, but can cost more.
  • DThe checklist is also known as top down risk assessment

How the community answered

(70 responses)
  • A
    87% (61)
  • B
    3% (2)
  • C
    1% (1)
  • D
    9% (6)

Why each option

While using a checklist analysis approach for risk identification is efficient and leverages past experience, its main limitation is the inherent difficulty of creating an exhaustive checklist that covers all potential risks for a new project. This means new or unique risks might be overlooked despite similarities to previous projects.

AThe checklist analysis approach is fast but it is impossible to build and exhaustive checklist.Correct

Checklist analysis is indeed fast as it leverages existing knowledge, but its fundamental limitation is that it's nearly impossible to create a perfectly exhaustive checklist for every conceivable risk. This means that unique risks to the current project, or risks not encountered in previous projects, could be missed.

BThe checklist analysis approach only uses qualitative analysis.

Checklist analysis can be used as input for both qualitative and quantitative analysis; it's not restricted to qualitative analysis.

CThe checklist analysis approach saves time, but can cost more.

Checklist analysis is generally considered a cost-effective method for initial risk identification due to its efficiency, so it saving time but costing more is typically inaccurate.

DThe checklist is also known as top down risk assessment

While a checklist approach can be part of a top-down risk assessment, it is not synonymous with the term "top-down risk assessment" itself.

Concept tested: Limitations of checklist risk analysis

Topics

#Risk Identification#Checklist Analysis#Risk Management Techniques#Limitations of Risk Tools

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