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PO9.6 - Maintenance and Monitoring of a Risk Action Plan

This topic is intended to enable collaboration and sharing of information to facilitate a better understanding and approach to implementing this COBIT control objective based on the risk, value and guidance provided by its corresponding control practices.

COBIT Control Objective PO9.6 - Maintenance and Monitoring of a Risk Action Plan is contained within Process Popup Assess and Manage IT Risks.

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Maintenance and Monitoring of a Risk Action Plan

Prioritise and plan the control activities at all levels to implement the risk responses identified as necessary, including identification of costs, benefits and responsibility for execution. Obtain approval for recommended actions and acceptance of any residual risks, and ensure that committed actions are owned by the affected process owner(s). Monitor execution of the plans, and report on any deviations to senior management.

View value and Risk Drivers  help

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Value Drivers

  • Effective management of risks
  • Continuous evaluation of current risks and threats for the organisation
  Risk Drivers
  • Risk mitigation controls that do not operate as intended
  • Compensating controls that deviate from the identified risks

View Control Practices  help

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  1. Develop the risk action plan containing prioritised risk responses. Identify priorities, responsibilities, schedules, expected outcome of risk mitigation, costs, benefits, performance measures and the review process to be established.
  2. Obtain approval for recommended risk response actions from appropriate authorities. Define and document ownership for approved plan activities, and inform affected parties.
  3. Ensure that accepted risks are formally recognised, approved by senior management and recorded.
  4. Monitor execution of the action plan, report progress and deviations to senior management, and adjust the plan accordingly.
  5. Periodically review the action plan:
    • To ensure that it continues to efficiently and effectively address the IT risks identified
    • In light of any changes to business objectives or relevant IT systems
    • To identify improvement opportunities to the risk assessment and management process

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Events & Online Learning: 7 total

10 Jun 2013
ISACA International Event
Berlin, Germany
Early bird deadline has been extended: save over US $350 when you register by 1 May. Learn from industry-leading IT experts at Insights 2013. This is a unique opportunity to discover revolutionary new ideas at the world’s premier business event.
16 Sep 2013
ISACA International Event
London, England
Stay on top of the trends and opportunities of the dynamic technology industry at EuroCACS/ISRM 2013 in Berlin—the leading European conference for IT audit, assurance, security and risk professionals. Save over US $200 when you register by 22 July!
30 Sep 2013
ISACA International Event
Medellín, Colombia
La Conferencia Latinoamericana CACS/ISRM 2013 en Medellín, Colombia es la conferencia principal latinoamericana para los profesionales de auditoría, riesgo y seguridad de la información. Ahorre más de EE.UU. $ 100 si se inscribe antes del 7 de agosto!
14 Oct 2013
ISACA International Event
Boston, MA, USA

Journal Articles: 203 total

Volume 3, 2013
by Steven DeFino and Larry Greenblatt | Reviewed by Dauda Sule, CISA
This Guide is targeted toward individuals who wish to attain the Certified Ethical Hacker (CEH) certification.
Volume 2, 2013
by Darlene Tester
Not performing a full risk assessment before determining what security controls should be implemented is equivalent to not “looking before you leap.”
Volume 2, 2013
by Bob Smart, CISA, CISM, CRISC, MACS Snr, MBIS
Professional certifications can be defined as a promise made by the certifying body that the recipient has demonstrated a minimum level of capabilities.
Volume 2, 2013
by Samuel Pierre-Louis, CISSP-ISMP, René Sanchez, CISM, CBCP, MBCI, and Molly Shek, CISM, CGEIT, CRISC, PMP, RHIA
How does an organization that is faced with numerous federal and state compliance requirements meet the challenge?
Volume 2, 2013
by Vicki Gatewood, CGEIT, CRISC
For all of the positive claims about the benefits of cloud computing, there have been as many articles warning of the dangers.
Volume 2, 2013
by Rajesh Bhatia, CISA, CGEIT, PMP, MDP
This article discusses the benefits of using the framework of the five IT governance focus areas.

Wikis: 2 total

Blog Posts: 128 total

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