Section: Volume D

Section: Volume D
Explanation:
Standard establishes mandatory rules, specifications and metrics used to measure compliance against quality, value, etc. Standards are usually intended for compliance purposes and to provide assurance to others who interact with a process or outputs of a process.
Incorrect Answers:
A: Frameworks are generally accepted, business-process-oriented structures that establish a common language and enable repeatable business processes.
B: These are legal rules underneath which project has to be.
D: Practices are frequent or usual actions performed as an application of knowledge. A leading practice would be defined as an action that optimally applies knowledge in a particular area. They are issued by a "recognized authority" that is appropriate to the subject matter. issuing bodies may include professional associations and academic institutions or commercial entities such as software vendors. They are generally based on a combination of research, expert insight and peer review.

Section: Volume C
Explanation:
The administrative audit is used to assess the efficiency of the productivity in the operations environment.
Incorrect Answers:
A: It evaluates the internal control structure of process of functional area.
B: Audits that assesses the correctness of financial statements is called financial audit.
D: They are the IS audits with specific intent to examine areas, such as processes, services, or technologies, usually by third party auditors.

Explanation/Reference:
Explanation:
The completed feasibility study results should include a cost/benefit analysis report that:
Provides the results of criteria analyzed (e.g., costs, benefits, risk, resources required and

organizational impact)
Recommends one of the alternatives and a course of action

Incorrect Answers:
B, C: Project management plan and risk response plan are the results of plan project management and plan risk response, respectively. They are not the result of feasibility study.

The best answer is D. Escalation triggers. Escalation triggers are predefined thresholds or conditions that indicate when a key risk indicator (KRI) has reached a critical level that requires immediate attention or action. Escalation triggers can be based on quantitative or qualitative measures, such as percentages, scores, ratings, or colors. Escalation triggers can help to ensure appropriate action is taken to mitigate risk, because they provide clear and timely signals that alert the risk owners, managers, and other stakeholders of the need to review and revise the risk response plan, or to implement additional or alternative controls. Escalation triggers can also help to communicate and report the risk status and the risk response actions to the senior management and the board, and to obtain their support and approval, if needed. The other options are not the best answer, although they may be related or influential to the KRI and the risk mitigation. Management intervention is a part of the risk response process, which involves the actions and decisions taken by the management to address the risk, such as approving, implementing, or monitoring the controls. Management intervention can help to mitigate risk, but it is not a component of the KRI, rather it is a consequence or a result of the escalation triggers. Risk appetite is the amount and type of risk that an organization is willing to accept or pursue in order to achieve its objectives. Risk appetite can help to define and align the KRI and the escalation triggers with the organizational strategy and culture, but it is not a component of the KRI, rather it is a factor or a driver of the KRI. Board commentary is a part of the risk reporting process, which involves the feedback and guidance provided by the board on the risk management process and performance. Board commentary can help to improve and enhance the KRI and the risk mitigation, but it is not a component of the KRI, rather it is a source or a resource of the KRI. References = Key Risk Indicators: A Practical Guide | SafetyCulture, KRI Framework for Operational Risk Management | Workiva