CRISC · Question #138
Which of the following should be the FIRST consideration when establishing a new risk governance program?
The correct answer is C. Embedding risk management into the organization. The first consideration when establishing a new risk governance program should be embedding risk management into the organization's culture and operations. This foundational step ensures that risk management becomes an integral part of decision-making and business processes.
Question
Which of the following should be the FIRST consideration when establishing a new risk governance program?
Options
- ADeveloping an ongoing awareness and training program
- BCreating policies and standards that are easy to comprehend
- CEmbedding risk management into the organization
- DCompleting annual risk assessments on critical resources
How the community answered
(37 responses)- A5% (2)
- B3% (1)
- C89% (33)
- D3% (1)
Why each option
The first consideration when establishing a new risk governance program should be embedding risk management into the organization's culture and operations. This foundational step ensures that risk management becomes an integral part of decision-making and business processes.
Developing awareness and training is an important component of embedding risk management, but not the first overarching consideration for establishing the program itself.
Creating policies and standards is a necessary step, but it follows the strategic decision to embed risk management and define its scope.
Establishing a new risk governance program requires it to be integrated into the organization's strategic objectives, culture, and day-to-day operations rather than being a standalone activity. Embedding risk management ensures that it is considered at all levels and in all decision-making processes from the outset, providing a strong foundation for the program's success and sustainability.
Completing annual risk assessments is an operational activity of an established risk management program, not the initial consideration for setting up the governance framework.
Concept tested: Risk governance program establishment foundation
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