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NEW QUESTION # 576
Which of the following is the BEST way to address an IT audit finding that many enterprise application updates lack appropriate documentation?
Answer: C
NEW QUESTION # 577
Which of the following represents the GREATEST challenge to implementing IT governance?
Answer: B
NEW QUESTION # 578
Which of the following concepts is the business practice of developing and implementing comprehensive risk management and security practices for a firm's entire value chain?
Answer: D
NEW QUESTION # 579
A review of the effectiveness of IT governance within an enterprise has revealed that several innovation improvement initiatives are failing. An analysis shows a lack of stakeholder buy-in to the improvements. Implementing which of the following would have prevented this problem?
Answer: C
Explanation:
A change management program is the best option to prevent the problem of a lack of stakeholder buy-in to the innovation improvement initiatives, because it is a systematic and structured approach to managing the human side of change and ensuring that the stakeholders are engaged, informed, and committed to the change process. A change management program can help to identify and analyze the stakeholders, their needs, expectations, and concerns, and develop appropriate strategies and actions to communicate, educate, involve, and support them throughout the change journey. A change management program can also help to assess and address the potential risks, barriers, and resistance to change, and monitor and measure the effectiveness and outcomes of the change initiatives. According to Making Change Happen: 5 Keys to Driving Successful Change Initiatives, "Stakeholders are all the people who affect or are affected by the change initiative. Project participants can't make the change happen by themselves. They need champions and supporters. It's important to align stakeholders around the overall vision and then actively engage them throughout the process."
NEW QUESTION # 580
An internal audit of a large financial institution found that financial data is being managed in a way that will negatively impact the enterprise's ability to support regulatory reporting. Which of the following should be the FIRST strategic action in addressing this situation?
Answer: C
Explanation:
Update data management policies.
Explanation:
Establishing a data governance framework is the first strategic action in addressing the situation where financial data is being managed in a way that will negatively impact the enterprise's ability to support regulatory reporting. This is because a data governance framework is a structured approach to managing and utilizing data in an organization. It includes policies, procedures, and standards that guide how data is collected, stored, managed, and used1. A data governance framework can help to:
Improve data quality, accuracy, consistency, and completeness1
Ensure data privacy, security, and compliance with regulatory requirements1 Align data with business strategy, objectives, and priorities1 Enhance data integration, accessibility, and usability1 Define data roles and responsibilities and assign accountability1 By establishing a data governance framework, the enterprise can address the root cause of the problem, which is the lack of control and oversight over the financial dat a. A data governance framework can help to ensure that the financial data is properly managed and utilized to support regulatory reporting and other business needs.
The other options, assigning data responsibilities through a RACI chart, reviewing key risk indicators (KRIs) related to data management, and updating data management policies are not as effective as establishing a data governance framework for addressing the situation. They are more related to the implementation and execution of the data governance framework, rather than its design. They are also dependent on the existence of a data governance framework, as they require a clear understanding of the data landscape, goals, and standards of the organization.
NEW QUESTION # 581
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