OneTrust Certified Privacy Professional Practice Exam

Must all risks flagged in an assessment be managed before the assessment can be approved?

1. Yes, that is mandatory

2. No, only significant risks need to be managed

3. It depends on the organization's policy

4. True or False

The correct answer is: Yes, that is mandatory

While the answer states that all risks flagged in an assessment must be managed before approval, it’s essential to recognize the nuanced implications of risk management within an organization’s framework. In many organizations, the risk management process is designed to identify and assess risks, after which organizations are often required to address them based on their severity or potential impact. Managing all risks flagged during an assessment can be impractical or impossible, especially if the number of risks is vast or if the resources to address every flagged risk are limited. Effective risk management practices typically prioritize significant risks — those that have the highest potential to impact the organization negatively. Consequently, while some organizations might adopt a stringent approach requiring all flagged risks to be managed prior to approval, this is not universally applicable and may depend heavily on organizational policies and risk appetite. Therefore, suggesting that managing all identified risks is necessarily mandatory overlooks this flexibility found in many organizations’ policies and practices.