A Key Distinction Between a Risk Response and a Contingency

question 47

Multiple Choice

A key distinction between a risk response and a contingency plan is

• A)A risk response is established only for moderate risks while contingency plans are established for major risks.
• B)A risk response is part of the actual implementation plan and action is taken before the risk can materialize, while a contingency plan goes into effect only after the risk has transpired.
• C)A risk response is only effective when you are able to assess the likelihood of the risk and its impact on the project; all other risks are covered by contingency planning.
• D)A risk response is created by the project team and the project manager while the project manager and the customer agree on the contingency plan.
• E)A risk response is action that is the response to a risk once it has happened and the contingency plan is created by the customer if the risk response fails.

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Definitions:

Pressure

A feeling of stress or urgency caused by external or internal demands influencing an individual's well-being.

Expectations

Beliefs or forecasts about future events, which can influence perceptions and behaviors.

Demands

Expectations or requirements that are placed on an individual by themselves, others, or by situational circumstances.

Emotional Responses

The reactions, often complex and involving physiological, behavioral, and cognitive elements, triggered by internal or external stimuli.