Certified Business Continuity Professional (CBCP) CBCP-002 Exam Questions with Experts Answers Updated Recently

The four T’s of risk guidance produced by the Office of Government Commerce are transfer, tolerate, treat, and terminate. They are:

• Transfer: This strategy involves transferring or sharing some or all of the responsibility or impact of a risk to another party, such as an insurer, a supplier, or a partner.
• Tolerate: This strategy involves accepting or retaining a risk without taking any further action to reduce it, either because the risk level is acceptable or because the cost or effort of reducing it is not justified.
• Treat: This strategy involves taking steps to reduce the likelihood or impact of a risk to an acceptable level, such as implementing controls, mitigations, or contingency plans.
• Terminate: This strategy involves eliminating or avoiding a risk by discontinuing or changing the activity that causes it. Verified References: https://www.investopedia.com/terms/t/the-four-ts.asp https://www.thebci.org/training-qualifications/good-practice-guidelines.html

The four R’s are action approaches for crisis and post-crisis management. They are:

• Reduction: This approach aims to prevent or mitigate the occurrence or impact of a crisis by identifying and addressing the root causes, vulnerabilities, and risks.
• Readiness: This approach aims to prepare for a potential crisis by developing plans, policies, procedures, systems, teams, and resources that can enable a timely and effective response.
• Response: This approach aims to manage a crisis by activating the plans, policies, procedures, systems, teams, and resources that can contain, control, and resolve the situation.
• Recovery: This approach aims to restore normal operations after a crisis by implementing actions that can repair damages, restore functions and processes, resume services and products, recover losses, and learn lessons. Verified References: https://www.cisco.com/c/en/us/solutions/hybrid-work/what-is-business-continuity.html https://phoenixnap.com/blog/what-is-business-continuity-management