CRISC · Question #67
Which of the following is the MOST important objective from a cost perspective for considering aggregated risk responses in an organization?
The correct answer is C. Address more than one risk response. From a cost perspective, the most important objective of aggregated risk responses is to address multiple risks simultaneously, which often leads to more efficient resource allocation and cost savings.
Question
Which of the following is the MOST important objective from a cost perspective for considering aggregated risk responses in an organization?
Options
- APrioritize risk response options
- BReduce likelihood.
- CAddress more than one risk response
- DReduce impact
How the community answered
(41 responses)- A7% (3)
- B2% (1)
- C88% (36)
- D2% (1)
Why each option
From a cost perspective, the most important objective of aggregated risk responses is to address multiple risks simultaneously, which often leads to more efficient resource allocation and cost savings.
Prioritizing risk response options is a step in the process, but aggregation focuses on the implementation aspect for cost efficiency, not just prioritization.
Reducing likelihood is a goal of risk response, but not the most important cost objective of aggregating responses; the cost benefit comes from shared implementation.
Aggregating risk responses means finding a single control or strategy that mitigates multiple identified risks, leading to economies of scale and reduced overall costs compared to implementing separate, individual responses for each risk. This efficiency in resource utilization is the primary cost-saving benefit of an aggregated approach.
Reducing impact is also a goal of risk response, but similar to likelihood, the cost advantage of aggregation lies in handling multiple issues at once rather than the specific type of reduction.
Concept tested: Aggregated risk response cost efficiency
Topics
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