Risk Response Planning Documentation

Correct Answer: Redundancy mitigation strategy

The Redundancy mitigation strategy is the most appropriate answer because it specifically addresses the scenario of maintaining multiple backup servers at different locations. This strategy involves creating duplicate systems and components to ensure continuous operation if one component fails. Redundancy is a fundamental approach in system reliability where backup components take over when primary systems fail. In this case, having multiple backup servers represents a clear implementation of redundancy. The other options are less suitable because: Parallel processing refers to simultaneous execution of tasks, which is different from maintaining backup systems. Geographic distribution is part of the solution but does not fully capture the concept of maintaining redundant systems. The enhanced backup response strategy with distributed architecture is too complex and verbose, combining multiple concepts when the core strategy is simply redundancy. Redundancy mitigation strategy precisely defines the approach of having multiple backup systems ready to take over, making it the most accurate choice for this scenario.

Correct Answer: Mitigation - reducing the probability and impact of the risk through proactive measures

The correct answer is Mitigation because: The described scenario shows a classic risk mitigation strategy where the team is taking specific actions to reduce both the probability and impact of a potential security risk. By implementing a fraud detection algorithm alongside existing security measures, the team is actively working to minimize the threat's potential impact. Why other answers are incorrect: Enhancement is incorrect as this is not about improving performance but specifically addressing a risk. Modification suggests changing the existing infrastructure entirely, which is not the case here - they are adding complementary measures. Prevention is incorrect because it suggests complete elimination of all threats, which is unrealistic in security contexts. No security measure can guarantee 100% elimination of all potential threats. Mitigation is the most appropriate risk response strategy when dealing with security vulnerabilities, as it realistically aims to reduce (not eliminate) both the probability and impact of the risk through specific, targeted measures.

Correct Answer: Risk sharing strategy

The scenario describes a Risk sharing strategy, where both the project team and the supplier agree to share potential gains or losses related to price fluctuations of essential materials. Risk sharing is appropriate when neither party wants to bear the full impact of price variations, so they establish a contract that distributes both potential benefits and negative impacts between parties. The other options are incorrect because: - Collaborative price control mechanisms would focus on controlling prices rather than sharing the impact of fluctuations - A fixed-price contract would place all risk on the supplier, which is not what's described in the scenario - Risk acceptance with contingency reserves would mean the project team takes on all the risk themselves, rather than sharing it with the supplier The key identifier in this scenario is the explicit mention of sharing both gains and losses with the supplier, which is the definition of a risk sharing strategy.