CRISC · Question #360
Which of the following is the MOST important success factor when introducing risk management in an organization?
The correct answer is D. Establishing executive management support. The most crucial success factor for introducing risk management is obtaining strong executive management support, as it ensures adequate resources, authority, and organizational buy-in for the initiative.
Question
Which of the following is the MOST important success factor when introducing risk management in an organization?
Options
- AImplementing a risk register
- BDefining a risk mitigation strategy and plan
- CAssigning risk ownership
- DEstablishing executive management support
How the community answered
(33 responses)- A3% (1)
- B3% (1)
- D94% (31)
Why each option
The most crucial success factor for introducing risk management is obtaining strong executive management support, as it ensures adequate resources, authority, and organizational buy-in for the initiative.
Implementing a risk register is a tool for risk management, but without executive support, it may not be effectively utilized or maintained.
Defining a risk mitigation strategy is a core component of risk management, but its effectiveness depends on management support for its implementation and funding.
Assigning risk ownership is crucial for accountability, but without executive backing, these assignments may lack the necessary authority or enforcement.
Establishing strong executive management support is paramount because it provides the necessary authority, resources, and sponsorship to drive the adoption of risk management across the organization, ensuring it is taken seriously and integrated into strategic decision-making and operational processes.
Concept tested: Risk management program success factors
Topics
Community Discussion
No community discussion yet for this question.