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 1 / 2
What is defined as "Holistic management process that identifies potential impacts that threaten an organization and provides a framework for building resilience and the capability for an effective response that safeguard the interests of its key stakeholders, reputation, brand and value creating activities."? - Correct Answer Business Continuity In the 1970's, with a knowledge-based economy, the risks were more tangible in nature and were associated with plant, machinery and labour and were national or local. - Correct Answer True Management is generally unable to see a direct return on investment (ROI) and frequently does not consider that these activities add value and enhance earnings. - Correct Answer True In multilateral continuity planning, a which questions are some of the most important, yet commonly disregarded, issues in BCP? (Select all that apply) - Correct Answer What happens if one of your customers has a disaster?What is the impact on you?What must or should you do to support their recovery efforts?What can you do to ensure a minimal disruption to your organization?The business community is not only internally dependent on technology; all external communication is being performed electronically as well. - Correct Answer True Contingencies, alternatives, and interim solutions during a crisis will ultimately impact all areas within your organization as well as vital operations within your customers, suppliers and business partners. Consideration will need to be given to a large number of operating functions in order to ensure coherence within all affected organizations.These will include: (Select all that apply) - Correct Answer Extended payment terms.Direct assistances through MCP support teams.Alternative forms of communication to customers/end users; cooperative competitor plans.Step 2 of Multilateral Continuity Planning, based on the CRPC methodology is: - Correct Answer Establish an internal MCP Project Coordination Team(s).Step 6 of Multilateral Continuity Planning, based on the CRPC methodology is: - Correct Answer Prepare an MCP 'Participant Discussion Paper'.Step 11 of Multilateral Continuity Planning, based on the CRPC methodology is: - Correct Answer Conduct Interdependency Review.
- / 2