The Control design option refers to governing and managing risks, opportunities, or obligations through actions and measures tailored to their specific nature. This approach is the most common in risk management and compliance, as it involves proactive efforts to reduce risks or maximize opportunities while ensuring alignment with organizational goals.
Key Characteristics of Control:
Actions Tailored to Nature:
Controls are specific to the type of risk, opportunity, or obligation being addressed.
Example: Implementing cybersecurity controls such as firewalls to manage data security risks.
Management and Governance:
Actions include establishing policies, procedures, and systems to govern behavior and operations.
Example: Instituting anti-bribery controls to manage compliance obligations under ISO 37001.
Alignment with Frameworks:
Control measures are informed by risk management frameworks like COSO ERM and ISO 31000, which emphasize adapting controls to the specific nature of risks or opportunities.
Why Option A is Correct:
The Control option focuses on governing and managing risks, opportunities, or obligations based on their nature, making it the correct answer.
Why the Other Options Are Incorrect:
B. Share: Involves transferring a portion of the risk or obligation to another entity.
C. Accept: Involves tolerating the risk or obligation without further action.
D. Avoid: Involves ceasing activities or terminating the source, not managing it.
References and Resources:
ISO 31000:2018 – Provides guidance on controlling risks through mitigation strategies.
COSO ERM Framework – Describes control as a key component of managing risks and obligations.
