Information Security Risk Response

Correct Answer: Risk reduction

The correct answer is 'Risk reduction'.

Risk reduction involves implementing controls to mitigate the likelihood or impact of a threat exploiting a vulnerability. This is a proactive approach to managing information security risks by putting measures in place to decrease the probability of a risk occurring or minimizing its potential impact.

The other options are incorrect for the following reasons:

'Risk avoidance through strategic realignment' involves completely eliminating the risk by avoiding the activity or condition that creates it. While this can be effective, it doesn't address the question of implementing controls to reduce likelihood.

'Risk transference to a third-party insurer' involves shifting the risk to another party, typically through insurance or outsourcing. This doesn't involve implementing controls to reduce the likelihood of a threat.

'Risk retention with contingency planning' means accepting the risk and preparing for potential consequences. This approach doesn't focus on reducing the likelihood of a threat exploiting a vulnerability.

In information security management, risk reduction is a common and often preferred approach when risks cannot be completely avoided or transferred, making it the most appropriate answer to the given question.

Correct Answer: Risk reduction through process redesign

The best answer is 'Risk reduction through process redesign'. This option directly addresses the question by implementing a strategy to modify business processes or technologies to address risks. Risk reduction is a proactive approach that involves changing existing processes or implementing new technologies to mitigate identified risks. This aligns with the question's focus on modifying business processes or technologies. The other options are incorrect for the following reasons: 'Risk transference through contractual agreements' involves shifting the risk to another party, rather than modifying internal processes or technologies. 'Risk avoidance by ceasing high-risk activities' involves eliminating the risk by stopping the activity altogether, not modifying it. 'Risk acceptance with enhanced monitoring protocols' involves accepting the risk as-is and monitoring it, rather than actively modifying processes or technologies to address it.

Correct Answer: To provide timely updates on the effectiveness of risk mitigation strategies

The primary purpose of risk monitoring and reporting in an information security program is to provide timely updates on the effectiveness of risk mitigation strategies. This is crucial because:

1. It allows organizations to assess the ongoing effectiveness of their security measures.
2. It helps identify new or evolving risks in real-time.
3. It enables decision-makers to make informed choices about resource allocation and strategy adjustments.
4. It supports continuous improvement of the security program.

The other options are less accurate or too narrow in scope:

Creating extensive documentation of all potential security threats is important but not the primary purpose of risk monitoring and reporting. This is more related to risk assessment.

Implementing automated security controls is a risk mitigation action, not a monitoring or reporting function.

Conducting annual security audits and compliance checks is too infrequent for effective risk monitoring and doesn't capture the ongoing nature of the process.

The correct answer emphasizes the dynamic, ongoing nature of risk monitoring and its role in informing decision-making and strategy, which is essential for effective information security management.