ITIL 4 Foundation Practice Exam

What is the primary purpose of control in risk management?

1. To assess the likelihood of a risk

2. To manage a risk and achieve a business objective

3. To eliminate all possible risks

4. To document risks for future reference

The correct answer is: To manage a risk and achieve a business objective

The primary purpose of control in risk management is to manage a risk and achieve a business objective. This means implementing measures that help reduce the impact of risks while still allowing the organization to pursue its goals. Control ensures that the organization can navigate uncertainties and challenges effectively, thereby safeguarding its objectives and resources. By focusing on managing risks rather than eliminating them entirely, organizations acknowledge that some risks are inherent to their operations. Instead of striving to eliminate all possible risks, which is unrealistic and impractical, the focus is on understanding and mitigating risks to align with strategic business goals. This balanced approach allows for informed decision-making and resource allocation, ensuring continual improvement and resilience within the organization's operations. In contrast, merely assessing the likelihood of a risk does not address how to handle it. Documentation of risks is important for awareness and historical context but does not actively manage them. While recognizing risks is vital, controlling them through proactive strategies and measures is fundamental to achieving operational success and organizational resilience.