Which Describes the 'Implement' Step Within the Recommended Risk Management

question 27

Multiple Choice

Which describes the 'Implement' step within the recommended risk management procedure?

• A) Project Support will allocate the risk budget to fund the selected risk responses
• B) The risk owner will decide the best response to control the risk
• C) The risk owner and the risk actioner will carry out activities to control and deal with the risk
• D) The Project Manager will formulate the Risk Management Strategy

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Definitions:

Variable Expenses

Expenses that vary directly with the level of production or sales volume, such as raw materials and direct labor.

Fixed Expenses

Costs that remain constant over a specified period regardless of changes in the level of activity or volume of production.

Margin of Safety

The difference between actual or expected sales and the sales level at the break-even point, indicating the amount by which sales can drop before the company incurs a loss.

Unit Variable Expenses

Costs that vary directly with the volume of production or sales per unit.