A risk management program is a systematic and structured approach to identify, analyze, evaluate, treat, monitor, and communicate the risks that may affect the organization’s objectives and performance.
The greatest advantage of implementing a risk management program is enabling risk-aware decisions. This means that the organization incorporates the risk information and analysis into its decision making process, such as strategic planning, resource allocation, project management, etc.
Enabling risk-aware decisions helps to optimize the outcomes and benefits of the decisions, balance the opportunities and threats of the decisions, and align the decisions with the organization’s risk appetite and tolerance.
The other options are not the greatest advantages of implementing a risk management program. They are either secondary or not essential for risk management.
The references for this answer are:
Risk IT Framework, page 25
Information Technology & Security, page 19
Risk Scenarios Starter Pack, page 17
