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CISM study material · question 300 of 1000

A manager proposes switching the whole organisation from qualitative to quantitative risk analysis immediately. Which offsetting cost does IR 8286 identify?

  1. Quantitative analysis cannot be reconciled with enterprise risk management, which reports in qualitative terms
  2. Quantitative analysis is prohibited for intangible impacts such as reputation, which carry no market price
  3. Changing the assessment methodology requires time and resources for development and training
  4. Quantitative results cannot be reported to non-technical audiences, who read a distribution as nothing more than false precision
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Answer: C. Changing the assessment methodology requires time and resources for development and training

IR 8286 balances the appeal of numbers against a practical cost: swapping methodology consumes time and resources on development and on training people to use it.

Source: NIST IR 8286 (NIST) — Sec. 3.3.1 Risk Analysis Types

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