Which solution area aims to decrease the likelihood of business interruptions, regulatory violations, financial losses, and reputational damage as a result of a vendor-related event?
D) Incident Management is my pick. It's all about responding to and recovering from vendor-related incidents, which is what this question is asking about.
I'm going with A) Third Party Governance. This solution area ensures that vendors are properly vetted and their performance is monitored to prevent issues. Sounds like the right fit to me.
B) Relationship Management seems like a logical choice, as it focuses on managing vendor relationships to mitigate risks. But I'm not sure it's the best fit for this particular question.
D) Incident Management deals with responding to and managing incidents after they occur, while Third Party Governance aims to prevent them from happening in the first place.
C) Business Continuity is also crucial for ensuring operations continue in the face of disruptions, but Third Party Governance focuses specifically on vendor-related risks.
A) Third Party Governance is the correct answer, as it specifically aims to decrease the likelihood of business interruptions, regulatory violations, financial losses, and reputational damage as a result of a vendor-related event.
I think the answer is C) Business Continuity. This solution area is designed to minimize the impact of vendor-related disruptions and protect the organization's operations.
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