CGEIT Premium Exam Questions

 Enterprise data governance is a system for defining who within an organization has authority and control over data assets and how those data assets may be used. It encompasses the people, processes, and technologies required to manage and protect data assets1. Enterprise data governance can help address the inconsistencies in data classification by establishing a common framework, standards, and policies for data quality, security, and usage across the enterprise. It can also assign roles and responsibilities for data owners, stewards, and custodians to ensure accountability and compliance234. References:

• 2: https://www.ibm.com/topics/data-governance
• 1: https://www.cio.com/article/202183/what-is-data-governance-a-best-practices-framework-for-managing-data-assets.html
• 3: https://www.sailpoint.com/identity-library/enterprise-data-governance/
• 4: https://atlan.com/enterprise-data-governance/

 Quantitative analysis is the best method to assess the risk of plausible scenarios that could result in economic loss associated with major IT investments, because it tries to assign objective numerical or measurable values to the components of the risk assessment and to the assessment of potential loss1. Quantitative analysis can help estimate the probability and impact of risk events, calculate the expected monetary value (EMV) of risk, and compare the costs and benefits of different risk responses2. Quantitative analysis can also provide a more accurate and objective basis for decision making than qualitative analysis, which is scenario-based and relies on subjective judgments1. References := 1: Risk Assessment and Analysis Methods: Qualitative and Quantitative - ISACA12: 6 Types of Risk Assessment Methodologies + How to Choose - Drata2

 When updating an IT governance framework to support an outsourcing strategy, the most important aspect is to ensure the effective management of contracts with third-party providers. Contracts are the legal documents that define the scope, terms, conditions, and expectations of the outsourcing relationship, as well as the roles, responsibilities, and obligations of both parties. Contracts also specify the service level agreements (SLAs), key performance indicators (KPIs), and reporting mechanisms that are used to measure and monitor the quality and performance of the outsourced services. Contracts also provide the mechanisms for resolving disputes, enforcing compliance, and managing changes and risks. Therefore, ensuring the effective management of contracts with third-party providers is essential for achieving the desired outcomes and benefits of outsourcing, as well as for mitigating the potential challenges and issues that may arise from outsourcing. References: Outsourcing Governance Framework1, Guidelines on outsourcing arrangements2, IT governance -managing the outsourcing relationship3

An IT balanced scorecard is the best information source to assess the effective alignment of IT investments, because it provides a comprehensive and balanced view of the IT performance and value from four perspectives: financial, customer, internal process, and learning and growth1. An IT balanced scorecard helps to translate the IT strategy and objectives into measurable indicators that reflect the contribution of IT to the business strategy and goals2. An IT balanced scorecard also helps to monitor and evaluate the IT investments based on their benefits, costs, and risks, and to identify and address any gaps or issues in the IT alignment2. An IT balanced scorecard also helps to communicate and report the IT value and outcomes to the stakeholders, and to foster a continuous improvement culture within the organization2.

References := Implementing the IT Balanced Scorecard: Aligning IT with … - Routledge, Strategy-Based Balanced Scorecards for Technology.