CRISC Question #432: Real Exam Question with Answer & Explanation

Question

Which of the following BEST facilitates the development of relevant risk scenarios?

Options

• APerform quantitative risk analysis of historical data.
• BAdopt an industry-recognized risk framework.
• CUse qualitative risk assessment methodologies.
• DConduct brainstorming sessions with key stakeholders.

Explanation

Conducting brainstorming sessions with key stakeholders is the most effective way to develop relevant risk scenarios by leveraging diverse perspectives and practical insights.

Common mistakes.

• A. Quantitative analysis of historical data is useful for assessing existing risks or trends but may not effectively identify new or emerging risk scenarios unique to specific contexts or future plans.
• B. Adopting a risk framework provides structure and guidance but does not, by itself, generate specific, relevant risk scenarios for an organization; it outlines the 'how-to' rather than the 'what-if' of risk identification.
• C. Qualitative methodologies are used for assessing identified risks (likelihood and impact), but they are not the primary method for developing or generating the initial risk scenarios themselves.

Concept tested. Risk scenario development techniques

Reference. https://csrc.nist.gov/publications/detail/sp/800-30/rev-1/final

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