Multiple Select QuestionSelect all that applyIdentify the two statements that are correct and explain the distinction between a risk response plan and a contingency plan.Multiple select question.Contingency plans go into effect before a risk occurrence happens.Contingency plans go into effect after a risk occurrence happens.Risk response plans are initiated before the risk occurs.Risk response plans are initiated after the risk occurs.

Multiple Select QuestionSelect all that applyWhat functions are included in a risk response strategy?Multiple select question.Watching for new risksMonitoring "triggering" eventsDeveloping management reservesInitiating contingency plans

Multiple Select QuestionSelect all that applyWhich are potential impacts given a project with risk responses but no contingency plan?Multiple select question.Delayed corrective action.Panic.Reduced costs through saved time.Incorrect actions taken.

Multiple Select QuestionSelect all that applyWhat are key components of a contingency plan?Multiple select question.Developing a work breakdown structure for the contingency plan.Naming a person responsible to execute the plan.Defining the event that will initiate/trigger the plan into action.Cost estimates in the planning, not execution, phase.

Which of these is one type of contingency plan?  A. Production plan  B. Incident response plan  C. Disaster recovery plan  D. Investment plan

Multiple Choice QuestionWhat is the purpose of a contingency fund in executing a response to an opportunity (positive risk) occurring?Multiple choice question.To take advantage of opportunitiesTo eliminate project risksNone, it is not built into the original plan