Final Exam - Continuity of Business Ops (Business Continuity Management) PM 3007 with Complete Solutions 2023/2024

The four categories identified in your text that relate to achieving corporate objectives for Enterprise Risk Management framework are: - Correct Answer Strategic, Operations, Reporting, Compliance. This term is defined as: Risks are analyzed, considering the likelihood and impact, as a basis for determining how they should be managed. Risks are assess on an inherent and a residual basis. - Correct Answer Risk assessment Risks categories that are common to all organizations include: - Correct Answer All of the above Enterprise Risk Management is not susceptible to The Chief Risk Officer's job is to (select all that apply): - Correct Answer Promote the risk management perspective in strategic decision making. Raise risk awareness and secure the commitment of senior management. Identify and and report on the top risks a company faces. When senior management spends a certain amount of money, they like to see a larger amount of money return to the organization. This is knows as: - Correct Answer Return on investment (ROI) This initial stages of the Business Continuity Management all start with understanding the organization. - Correct Answer True According to the text, these questions should be asked to establish a deeper understanding of what the business is truly about (select all that apply). - Correct Answer What are the business goals? What is our annual revenue? Who are our customers? What is deemed to be critical to success in this industry? When you build the BCM strategy, you begin to build your vision for the future of the BCM. Questions you need to consider are: - Correct Answer All of the above. Flexibility and innovation are the keys to survival in business and these also apply to the BCM strategy. - Correct Answer True