A cost-benefit analysis of the control versus probable legal action is the best way to inform decision-makers about the value of a notice and consent control for the collection of personal information, as it quantifies the potential benefits and costs of implementing the control and compares them with the potential consequences of not implementing the control. This helps the decision-makers to evaluate the trade-offs and the return on investment of the control.
A comparison of the costs of notice and consent control options is not sufficient to inform decision-makers about the value of the control, as it does not consider the benefits or the risks of the control.
Examples of regulatory fines incurred by industry peers for noncompliance are not the best way to inform decision-makers about the value of the control, as they are based on historical data and may not reflect the current or future situation of the enterprise.
A report of critical controls showing the importance of notice and consent is not the best way to inform decision-makers about the value of the control, as it does not provide any quantitative or comparative data to support the decision. References = CRISC Review Manual, 7th Edition, ISACA, 2020, page 140-1411

The first step for the risk practitioner to address the situation of extended network outages that have exceeded tolerance is to recommend a root cause analysis of the incidents. A root cause analysis is a process of identifying and resolving the underlying causes of a problem or an event. By performing a root cause analysis, the risk practitioner can determine why the network outages occurred, what factors contributed to them, and how they can be prevented or reduced in the future. Recommending additional controls, updating the risk tolerance level, and updating the incident-related risk trend are possible steps that may follow the root cause analysis, but they are not the first step. References = ISACA Certified in Risk and Information Systems Control (CRISC) Certification Exam Question and Answers, question 4; CRISC Review Manual, 6th Edition, page 153.

The primary concern when IT decides to develop an in-house replacement application for a critical business application is that the business process owner is not an active participant. The business process owner is the person who has the authority and responsibility for the business process that is supported by the application, and who understands the business requirements, objectives, and expectations of the application. The business process owner should be involved in all stages of the application development lifecycle, from planning, analysis, design, testing, implementation, to maintenance, to ensure that the application meets the business needs and delivers value. Without the active participation of the business process owner, the application development project may face risks such as scope creep, miscommunication, user dissatisfaction, poor quality, or failure.
References:
*ISACA, Auditing IT Risk Associated With Change Management and Application Development1
*ISACA, Auditing Applications, Part 12

After identifying new risk events during a project, the project manager's next step should be to record the scenarios into the risk register, which is a document that records and tracks the identified risks, their causes, impacts, likelihood, responses, owners, and status. Recording the scenarios into the risk register helps to document and communicate the risks to the project team and stakeholders, and to facilitate the subsequent risk analysis and response processes. The other options are not the next steps, but rather the subsequent steps after recording the scenarios into the risk register. Determining if the scenarios need to be accepted or responded to is part of the risk evaluation and treatment process, which requires a prior risk analysis. Continuing with a qualitative or quantitative risk analysis is part of the risk assessment process, which requires a prior risk identification and documentation. References = Risk Register: A Project Manager's Guide with Examples
[2023] * Asana; Risk Identification in Project Management; 6.3. The 5 Steps of the Risk Management Process

Risk appetite is the amount and type of risk that an organization is willing to accept in pursuit of its objectives. Risk appetite is influenced by various factors, such as the organization's mission, vision, values, culture, stakeholders, resources, capabilities, etc. However, the factor that has the greatest influence on the organization's risk appetite is the business objectives and strategies, which are the desired outcomes and the plans to achieve them. The business objectives and strategies define the direction and scope of the organization, and the risk appetite reflects the level of risk that the organization is prepared to take to accomplish them. The risk appetite should be aligned with the business objectives and strategies, and should provide guidance for the risk management activities and decisions. References = CRISC Review Manual, 7th Edition, page 61.