Risk Management Plan
Risk Management Plan is discussed in: Domain 1 "RISK GOVERNANCE" section B.1: Enterprise Risk Management and Risk Management Framework. Question came up about the initial stages of Risk Management Planning. I mistakenly thought, it would be establishing ownership of identified risks. But NO! Before that, you need to need identify context and extent of the program. How could I be so foolish and think so? I assumed with planning, we have already the context and extend already, and thought it was not part of Risk Management Plan.. but boy I was wrong... This is type of things you get wrong when doing CRISC questions. Now Risk Management Plan, according the the AI: Developing a robust risk management program involves a systematic approach. Here are the typical stages involved: 1. Establishing the Context: Define Objectives and Scope: Clearly articulate the organization's goals and the specific areas the risk management program will cover. This sets th...