A key outcome of risk ownership is that risk responsibilities are addressed, as this means that the risk owner has the authority and accountability to manage the risk, and that the roles and expectations of the other stakeholders are clearly defined and agreed upon. Risk ownership is the process of assigning a person or entity with the responsibility to manage a particular risk. Risk ownership helps to ensure that the risk is properly identified, assessed, and treated, and that the risk status and performance are monitored and reported. The other options are not key outcomes of risk ownership, although they may be related or beneficial aspects of it.
Risk-related information is communicated is an outcome of risk reporting, which is a part of risk monitoring and control. Risk-oriented tasks are defined is an outcome of risk response planning, which is a part of risk treatment. Business process risk is analyzed is an outcome of risk assessment, which is a part of risk identification and analysis. References = Risk and Information Systems Control Study Manual, Chapter 2: IT Risk Identification, page 47.

According to the CRISC Review Manual (Digital Version), reviewing the business impact analysis (BIA) will best help an organization select a recovery strategy for critical systems, as it provides an assessment of the potential impact and consequences of a disruption to the organization's critical business functions and processes. Reviewing the BIA helps to:
* Identify and prioritize the critical systems and their dependencies that support the critical business functions and processes
* Estimate the maximum tolerable downtime (MTD) and the recovery time objective (RTO) for each
* critical system
* Evaluate the feasibility and cost-effectiveness of various recovery strategies and options for each critical system
* Select the most appropriate recovery strategy and option for each critical system based on the organization's objectives and requirements
* Develop and implement the recovery plan and procedures for each critical system References = CRISC Review Manual (Digital Version), Chapter 3: IT Risk Response, Section 3.3: Risk Response Options, pp. 174-1751

Explanation/Reference:
Explanation:
The risk components defined by the COSO ERM are internal environment, objective settings, event identification, risk assessment, risk response, control objectives, information and communication, and monitoring.
Incorrect Answers:
C: Business continuity is not considered as risk component within the ERM framework.

Showing projected residual risk is the most helpful way to respond to the request of explaining how existing risk treatment plans would affect risk posture at the end of the year. Residual risk is the level of risk that remains after the implementation of risk responses1. Projected residual risk is the estimated level of risk that will remain at a future point in time, based on the assumptions and expectations of the risk responses2. By showing projected residual risk, the risk practitioner can:
* Demonstrate the effectiveness and efficiency of the risk treatment plans, and how they reduce the risk level from the inherent risk (the risk before the risk responses) to the residual risk3.
* Compare the projected residual risk with the risk appetite and tolerance, which are the amount and type of risk that the organization is willing to accept or pursue in order to achieve its objectives4. This can help to determine whether the projected residual risk is acceptable or not, and whether the risk treatment plans are consistent and proportional to the risk level5.
* Identify and address any gaps, issues, or challenges that may affect the achievement of the projected residual risk, and recommend and implement appropriate improvement actions or contingency plans6.
The other options are not the most helpful ways to respond to the request, because:
* Assessing risk with no controls in place is not the most helpful way, as it does not reflect the current or future risk posture of the organization. Controls are the measures or actions that are implemented to modify the risk, such as prevent, detect, correct, or mitigate the risk7. Assessing risk with no controls in place can help to measure the inherent risk, but it does not show the impact or outcome of the risk treatment plans.
* Providing peer benchmarking results is not the most helpful way, as it does not reflect the specific or unique risk profile of the organization. Peer benchmarking is the process of comparing the organization's risk level and performance with its peers or competitors, based on a common set of criteria or indicators8. Providing peer benchmarking results can help to provide a reference or a standard for the risk posture, but it does not show the effect or result of the risk treatment plans.
* Assessing risk with current controls in place is not the most helpful way, as it does not reflect the future or projected risk posture of the organization. Assessing risk with current controls in place can help to measure the current residual risk, but it does not show the expected or estimated residual risk at the end of the year.
References =
* Residual Risk - CIO Wiki
* Projected Residual Risk - CIO Wiki
* Risk Treatment Plan - CIO Wiki
* Risk Appetite and Tolerance - CIO Wiki
* Risk Appetite: What It Is and Why It Matters - Gartner
* Risk Monitoring and Review - The National Academies Press
* Control - CIO Wiki
* Benchmarking - CIO Wiki
* [Risk Treatment - CIO Wiki]