Exam CRISC topic 1 question 451 discussion

D. establishment of a reliable basis for risk-aware decision making.

D. establishment of a reliable basis for risk-aware decision making The PRIMARY advantage of implementing an IT risk management framework is "D. establishment of a reliable basis for risk-aware decision making." An IT risk management framework provides a structured and systematic approach to identifying, assessing, and managing risks related to IT systems, processes, and operations. By having a well-defined framework in place, organizations can make informed and risk-aware decisions, ensuring that risks are considered in the context of strategic planning, resource allocation, and overall business objectives.

D. establishment of a reliable basis for risk-aware decision making An IT risk management framework provides an organization with a systematic approach for identifying, evaluating, and addressing risks. It gives the organization a way to understand and prioritize risks based on their potential impact and likelihood. This, in turn, provides a reliable basis for decision-making, ensuring resources are used efficiently to manage risks. While all the options provided are potential advantages of implementing a risk management framework, establishing a reliable basis for risk-aware decision making is a primary advantage.

Framework enables the organization to manage IT risks and make the proper decisions about risk management

The FIRST advantage is the establishment of a base on which to make risk-aware decisions, that decision making can result in the improvement of controls and the minimization of losses (or not), but it is not the FIRST advantage.

Answer is D per the QAE 5th Edition book R1-25 The MAIN objective of IT risk management is to: A. prevent loss of IT assets. B. provide timely management reports. C. ensure regulatory compliance. D. enable risk-aware business decisions. D is the correct answer. Justification: A. Protecting IT assets in support of business objectives is a subordinate goal of IT risk management. B. IT risk management can add value to reports; for example, it helps to document measurable return on IT investment. However, reporting and timeliness are subordinate goals of IT risk management. C. Meeting regulatory compliance requirements is a one of the objectives in an IT risk management framework. D. IT risk management should be conducted as part of enterprisewide risk management, whose ultimate objective is to support risk-aware business decisions.

Sorry for the typo: The plausibly correct answer is B, not D

Answer D is plausibly correct "A risk management framework can also provide protection against losses of competitive advantage, legal risks, and business opportunities. Remember, an effective risk management framework should be more than a set of standards and rules. It should have the ability to deliver actionable results that make a real difference in how your business and workforce perform in the long term". https://hartmanadvisors.com/risk-management-framework-an-overview/

The answer provided is plain wrong. If people want to fail, they should accept the wrong answer provided and there are tons of them here.

R1-60 from 5th edition revuew Questons, Answers ...answer is D

Risk based decision covers on part of Risk Framework only (output of Risk assessment), other parts likes Risk Governance, reporting and monitoring, mitigation of risk should also be a part of Risk Framework. Therefore, B looks better to me

The most important thing is to minimize losses. so the answer is correct

Inclined to D, why would be B?

I was debating between B and D and was more inclined to D. Then again it’s ISACA’s take on this to pass the exam...

Answer should be D