Which of the Following Statements Is True of Contingency Planning

question 45

Multiple Choice

Which of the following statements is true of contingency planning?

• A)It is planned for a five-year time frame.
• B)It considers factors of internal business environment rather than external environment.
• C)It focuses on the issues that are most probable and most potentially harmful.
• D)It applies tactical plans to daily, weekly, and monthly operations.

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Definitions:

Cost Reimbursable Contract

A type of contract where the purchaser agrees to pay the supplier for actual costs incurred plus a fee or profit.

Fixed Fee

A pre-determined and agreed-upon total charge for a specific service or project, not subject to change based on the amount of time or resources used.

Critical To Project

Elements or factors that are essential for the successful completion of a project, without which the project cannot proceed or succeed.

Quality And Schedule Needs

The requirements concerning the standard of work to be delivered and the timeline for its completion in a project.