The first course of action for the risk practitioner when identifying ineffective controls is to determine whether the impact of the control failure is outside the risk appetite of the organization. The risk appetite is the amount and type of risk that an organization is willing to accept in pursuit of its objectives. If the impact is within the risk appetite, the risk practitioner may decide to accept the risk or monitor the situation. If the impact is outside the risk appetite, the risk practitioner may need to escalate the issue, report the ineffective control, request a formal acceptance of risk, or deploy a compensating control.
References: The answer is based on the following sources:
*CRISC Review Manual, 7th Edition, Chapter 3: Risk Response and Reporting, pages 149-1501
*CRISC Review Questions, Answers & Explanations Database, 12 Month Subscription, Question ID:
QID-10042
*Effective Risk Management Strategies | CRISC Exam Preparation3

According to the CRISC Review Manual, the greatest benefit of analyzing logs collected from different systems is to detect developing threats earlier, because it helps to identify and correlate the patterns, trends, and anomalies that may indicate a potential attack or compromise. Log analysis is the process of examining and interpreting the log data generated by various systems, such as firewalls, servers, routers, and applications.
Log analysis can provide valuable insights into the activities and events that occur on the systems, and can enable the timely detection and response to the emerging threats. The other options are not the greatest benefits of analyzing logs, as they are less proactive or less strategic than detecting developing threats earlier.
Maintaining a record of incidents is a benefit of logging, but not of analyzing logs, as it involves storing and preserving the log data for future reference. Facilitating forensic investigations is a benefit of analyzing logs, but it is a reactive and tactical activity that occurs after an incident has happened. Identifying security violations is a benefit of analyzing logs, but it is a specific and operational activity that focuses on the compliance and enforcement of the security policies and standards. References = CRISC Review Manual, 7th Edition, Chapter 5, Section 5.3.2, page 263.

Explanation/Reference:
Explanation:
Key performance indicators (KPIs) provide insights into the operational effectiveness of the concept or capability that they monitor. Key Performance Indicators is a set of measures that a company or industry uses to measure and/or compare performance in terms of meeting their strategic and operational goals.
KPIs vary with company to company, depending on their priorities or performance criteria.
A company must establish its strategic and operational goals and then choose their KPIs which can best reflect those goals. For example, if a software company's goal is to have the fastest growth in its industry, its main performance indicator may be the measure of its annual revenue growth.
Incorrect Answers:
A: Capability maturity models (CMMs) assess the maturity of a concept or capability and do not provide insights into operational effectiveness.
B: Metric thresholds are decision or action points that are enacted when a KPI or KRI reports a specific value or set of values. It odes not provide any insights into operational effectiveness.
C: Key risk indicators (KRIs) only provide insights into potential risks that may exist or be realized within a concept or capability that they monitor. Key Risk Indicators are the prime monitoring indicators of the enterprise. KRIs are highly relevant and possess a high probability of predicting or indicating important risk.
KRIs help in avoiding excessively large number of risk indicators to manage and report that a large enterprise may have.

A policy exception is a deviation from the established policies, standards, or procedures of the enterprise, such as the information security policy. A policy exception may be granted by the management when there is a valid business reason or justification for the deviation, and when the risk associated with the deviation is acceptable or mitigated. The best course of action when a business unit has decided to accept the risk of implementing an off-the-shelf, commercial software package that uses weak password controls is to obtain management approval for policy exception. This will ensure that the business unit is aware of the implications and consequences of the policy exception, and that the management agrees with the risk acceptance and approves the policy exception. The other options are not the best course of action, as they involve different risk response strategies or outcomes:
* Develop an improved password software routine means that the business unit modifies or enhances the password controls of the software package, such as by increasing the password length, complexity, or expiration. This may not be a feasible or effective way to address the risk of weak password controls, as
* it may violate the terms and conditions of the software vendor, or may not be compatible or consistent with the software package.
* Select another application with strong password controls means that the business unit replaces the software package with another application that has better password controls, such as by using encryption, authentication, or authorization. This may not be a desirable or efficient way to address the risk of weak password controls, as it may incur additional costs, delays, or complexities, or may not meet the business requirements or expectations of the business unit.
* Continue the implementation with no changes means that the business unit proceeds with the software package without any modifications or improvements to the password controls, or without any approval or documentation of the policy exception. This may not be a responsible or ethical way to address the risk of weak password controls, as it may expose the enterprise to legal, financial, or reputational risks, or may compromise the security or compliance of the enterprise. References = Risk and Information Systems Control Study Manual, 7th Edition, Chapter 3, Section 3.4.1.1, pp. 121-122.