What is the best criterion for selecting technology products for control implementation?

What is the best criterion for selecting technology products for control implementation?

• A. It is easy to use and supported by system manuals
• B. It has a built-in audit trail feature
• C. It addresses the business risk at acceptable costs
• D. It has a large installation base worldwide

Answer: (C)

The best criterion for selecting technology products for control implementation is that it addresses the business risk at acceptable costs. This approach aligns with the fundamental principles of risk management and organizational strategy, emphasizing the need to mitigate risks in a cost-effective manner. When selecting technology controls, it's imperative to consider how well a product can address specific business risks that have been identified during risk assessments. The costs associated with these controls must be weighed against the potential impact of the risks they aim to mitigate. This ensures that organizations can efficiently allocate resources and maintain a balanced risk posture. Prioritizing costs without linking them to risk mitigation can lead to overspending on solutions that do not adequately protect the organization or enable gaps in risk management. Hence, focusing on whether the technology can effectively manage risk levels while staying within budgetary constraints is crucial for a sustainable risk response strategy.

The best criterion for selecting technology products for control implementation is that it addresses the business risk at acceptable costs. This approach aligns with the fundamental principles of risk management and organizational strategy, emphasizing the need to mitigate risks in a cost-effective manner. When selecting technology controls, it's imperative to consider how well a product can address specific business risks that have been identified during risk assessments. The costs associated with these controls must be weighed against the potential impact of the risks they aim to mitigate. This ensures that organizations can efficiently allocate resources and maintain a balanced risk posture.

Prioritizing costs without linking them to risk mitigation can lead to overspending on solutions that do not adequately protect the organization or enable gaps in risk management. Hence, focusing on whether the technology can effectively manage risk levels while staying within budgetary constraints is crucial for a sustainable risk response strategy.