is incorrect. Risk appetite and risk tolerance are considered when applying various risk responses.

Section: Volume D

Explanation/Reference:
Explanation:
Monitor and Control Risk is the process of implementing risk response plans, tracking identified risks, monitoring residual risk, identifying new risks, and evaluating risk process effectiveness throughout the project. It can involve choosing alternative strategies, executing a contingency or fallback plan, taking corrective action, and modifying the project management plan.
Incorrect Answers:
B: This is the process of numerically analyzing the effect of identified risks on overall project objectives.
C: This is the process of determining which risks may affect the project and documenting their characteristics.
D: This is the process of prioritizing risks for further analysis or action by accessing and combining their probability of occurrence and impact.

Section: Volume D

is incorrect. Manual controls usually not form strong internal control environment. By not automating SOD controls, there is, potentially, the issue of these controls becoming a barrier in serving the customer. As manual authorizations are often time consuming and require another step in any business process, this takes time away from serving the customer. Automated compliance solutions aim to provide enterprises with timely and efficient internal controls that do not disrupt their normal business process. Answer:A is incorrect. An RMIS can be a very effective tool in monitoring all risk factors that impact the enterprise. The danger is that many important classes of risk may be omitted from consideration by the system. hence it doesn't ensure strong internal control environment.