CRISC Exam Dumps : Certified in Risk and Information Systems Control

According to Wikipedia1, a maturity model is a framework for measuring an organization’s maturity, or that of a business function within an organization, with maturity being defined as a measurement of the ability of an organization for continuous improvement in a particular discipline. A maturity model will best indicate the effectiveness and efficiency of an organization or a business function, as it helps to evaluate how well they achieve their intended objectives with minimum resources, time, and cost. A maturity model also helps to identify and prioritize the areas and opportunities for improvement, and to establish and communicate the standards and best practices for the discipline. References = Wikipedia1

Residual risk is the remaining risk after the risk response has been implemented. Residual risk can be expressed as a combination of the probability and impact of the risk scenario, or as a single value such as loss expectancy. Residual risk can be compared with the inherent risk, which is the risk level before considering the existing controls or responses, to evaluate the risk reduction and value creation of the risk response. Senior management has asked the risk practitioner for the overall residual risk level for a process that contains numerous risk scenarios. The best way to provide this information is to calculate the average of anticipated residual risk levels for each risk scenario, and to present it as a single value or a range. This can help to provide a comprehensive and consistent view of the residual risk exposure and performance of the process, as well as to align it with the organization’s risk appetite and tolerance. The sum of residual risk levels for each scenario, the loss expectancy for aggregated risk scenarios, or the highest loss expectancy among the risk scenarios are not the best ways to provide the overall residual risk level, as they may overestimate or underestimate the risk exposure and performance of the process, and may not reflect the actual risk reduction and value creation of the risk response. References = Risk and Information Systems Control Study Manual, Chapter 3, Section 3.2.2, p. 108-109

The most important factor to the effectiveness of key performance indicators (KPIs) is relevance. KPIs are metrics that measure the achievement of the objectives or the performance of the processes. Relevance means that the KPIs are aligned with and support the strategic goals and priorities of the organization, and that they reflect the current and desired state of the outcomes or outputs. Relevance also means that the KPIs are meaningful and useful for the decision makers and stakeholders, and that they provide clear and actionable information for improvement or optimization. The other options are not as important as relevance, as they are related to the approval, review, or automation of the KPIs, not the quality or value of the KPIs. References = Risk and Information Systems Control Study Manual, Chapter 4: Risk and Control Monitoring and Reporting, Section 4.2: Key Performance Indicators, page 183.