Practice Quiz

Business Continuity Professional Exam Prep

Category - BIA

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While preparing your risk responses, additional risks are identified. What is correct course of action?
  1. Add reserves to the business continuity project to accommodate the new risks and notify management
  2. Document risk items and calculate expected monetary value based on probability and impact that result from the occurrences
  3. Determine the risk events and associated cost. Then add the cost to project budget as reserve
  4. Add contingency amount to the budget and notify customers.
  5. All of the above
Explanation
Answer. B. Document risk items and calculate expected monetary value based on probability and impact that result from the occurrence.

Key takeaway: As in a project, there are iterative processes in risk management. It is not always possible to identify all risks at the beginning of BCP.
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