To obtain support from senior management for an increase in the risk mitigation budget, it is BEST to prioritize risk scenarios in the risk register based on:
Inherent risk refers to the risk level before any mitigation efforts are applied. By highlighting high inherent risks, you demonstrate the potential impact and likelihood of negative events occurring, thus emphasizing the importance of allocating resources for effective risk management.
This would be B. You are looking to increase the risk mitigation budget. So it seems there are controls in place mitigating risk, so what is left is residual risk.
When seeking support from senior management for an increase in the risk mitigation budget, it is best to prioritize risk scenarios in the risk register based on residual risk.
Residual risk refers to the level of risk that remains after the implementation of existing controls or risk mitigation measures. By prioritizing risk scenarios based on residual risk, you can identify the areas of the business where the current controls and mitigation measures are inadequate or ineffective.
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