Inherent risk rating is a measure of the natural level of risk that is part of an application, before any controls are applied1. Inherent risk rating helps to identify and prioritize the applications that pose the highest risk to the organization and require the most attention and resources for risk management2. The responsibility for determining the inherent risk rating of an application should belong to the risk practitioner, as they have the expertise and knowledge to perform a comprehensive and consistent risk assessment of the application, using a standard methodology and criteria3. The risk practitioner should also communicate and report the inherent risk rating of the application to the relevant stakeholders, such as the application owner, senior management, and business process owner, and provide recommendations for risk mitigation4. The application owner, senior management, and business process owner are not the best choices for determining the inherent risk rating of an application, as they may not have the same level of skill and objectivity as the risk practitioner. The application owner is the person who has the authority and accountability for the application and its performance5. The application owner may be involved in providing input and feedback to the risk practitioner during the risk assessment process, but they may not be able to assess the inherent risk rating of the application independently and impartially, as they may have a vested interest in the application's success and reputation6. Senior management is the group of executives who set the strategic direction and objectives of the organization and oversee its performance7. Senior management may be involved in approving and endorsing the risk assessment process and its results, but they may not be able to assess the inherent risk rating of the application in detail and depth, as they may have a broader and higher-level perspective of the organization's risk profile and priorities8. The business process owner is the person who has the authority and accountability for a business process that is supported or enabled by the application. The business process owner may be involved in providing input and feedback to the risk practitioner during the risk assessment process, but they may not be able to assess the inherent risk rating of the application accurately and comprehensively, as they may have a limited and specific view of the application's functionality and value. References = 2: Introduction toapplication risk rating & assessment | Infosec3: Application Security Risk: Assessment and Modeling - ISACA4: Risk and Information Systems Control Study Manual, Chapter 4:
Risk and Control Monitoring and Reporting, Section 4.2: Risk Monitoring, pp. 189-191.1: Inherent Risk Rating - Shared Assessments - Third Party Risk Management5: [Application Owner - Gartner IT Glossary] 6: Perform Inherent Risk Analysis - Oracle7: [Senior Management - Definition, Roles and Responsibilities] 8: Rating Inherent and Residual Risk - Barn Owl : [Business Process Owner - Gartner IT Glossary] : [Business Process Owner - Roles and Responsibilities]

According to the Gaining the competitive edge - measuring and assessing an organization's risk culture article, risk appetite is the amount and type of risk that an organization is willing to accept in pursuit of its objectives. Risk appetite should be aligned with the organization's strategy, goals, and values, and should reflect the organization's risk culture and capabilities. One of the main considerations when validating an organization's risk appetite is the capacity to withstand loss, which is the ability of the organization to absorb the impact of adverse events without jeopardizing its viability or reputation. The capacity to withstand loss depends on various factors, such as the financial strength, the operational resilience, the governance structure, and the stakeholder expectations of the organization. By assessing the capacity to withstand loss, the organization can determine if its risk appetite is realistic and appropriate, or if it needs to be adjusted to match its risk profile and environment. References = Gaining the competitive edge - measuring and assessing an organization's risk culture

According to the ISACA Risk and Information Systems Control study guide and handbook, the control owners in the IT department should determine whether risk responses still effectively address risk after a restructuring and outsourcing of certain functions. This is because the restructuring and outsourcing may have changed the risk profile, the control environment, and the control activities of the IT department. The control owners should review the existing risk responses and evaluate if they are still appropriate, adequate, and efficient in mitigating the risks associated with the outsourced functions. The control owners should also monitor the performance and compliance of the service providers and ensure that the contractual obligations and service level agreements are met12
1: ISACA Risk and Information Systems Control Study Guide, 4th Edition, page 33 2: ISACA Risk and Information Systems Control Handbook, 1st Edition, page 25

An incident is an unplanned event that disrupts or degrades the normal operation or performance of an IT service, system, or network1. An incident can cause various negative impacts, such as service outages, data losses, security breaches, or customer dissatisfaction2. An incident can recur if the underlying cause or problem of the incident is not properly identified and resolved3.
The best course of action to help reduce the probability of an incident recurring is to perform root cause analysis. Root cause analysis is a systematic process of finding and eliminating the fundamental cause or problem that led to the incident4. Root cause analysis can help to:
Prevent or minimize the recurrence of the incident by addressing the source of the problem, not just the symptoms or effects Identify and implement corrective or preventive actions that can effectively resolve or mitigate the problem Learn from the incident and improve the IT service, system, or network quality and reliability Enhance the incident management and problem management processes and capabilities5 References = What is an Incident?, Incident Management - Wikipedia, Problem Management - Wikipedia, Root Cause Analysis - Wikipedia, Root Cause Analysis: A Guide for Business Leaders

A key performance indicator (KPI) is a metric that reflects how well an organization is achieving its goals and objectives. A KPI should be specific, measurable, achievable, relevant, and time-bound. For an IT department that has organized training sessions to improve user awareness of organizational information security policies, the best KPI to reflect the effectiveness of the training is the percentage of staff members who complete the training with a passing score. This KPI measures the level of knowledge and understanding of the security policies among the staff members, as well as the quality and impact of the training sessions. It also indicates whether the training sessions have met the predefined criteria and standards for success. A high percentage of staff members who complete the training with a passing score implies that the training sessions have been effective in improving user awareness of organizational information security policies. References = Risk and Information Systems Control Study Manual, Chapter 3, Section 3.3.2, p. 117-118