ITIL-FOUNDATION Question #39: Real Exam Question with Answer & Explanation

The correct answer is B: Identification of risk, analysis and management of the exposure to risk. Effective risk management requires a complete cycle of identifying risks, analyzing their likelihood and impact, and then managing the resulting exposure through appropriate responses.

Question

The effective management of risk requires specific types of action. Which of the following pairs of actions would be BEST to manage risk?

Options

ATraining in risk management for all staff and identification of risks
BIdentification of risk, analysis and management of the exposure to risk
CControl of exposure to risk and investment of capital
DTraining of all staff and investment of capital

Explanation

Effective risk management requires a complete cycle of identifying risks, analyzing their likelihood and impact, and then managing the resulting exposure through appropriate responses.

Common mistakes.

A. Training staff raises awareness but identification alone, without the subsequent analysis and management of exposure, does not constitute a complete or effective risk management process.
C. Controlling exposure is only one phase of the process, and capital investment is a financial response that is not universally applicable as a risk management action.
D. Staff training and capital investment are supporting activities and do not form a structured, repeatable risk management process on their own.

Concept tested. Risk management lifecycle - identify, analyze, manage exposure

Reference. https://www.axelos.com/certifications/propath/risk-management/managing-risk-m-o-r

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