You are the project manager of HFD project. You have identified several project risks. You have adopted alternatives to deal with these risks which do not attempt to reduce the probability of a risk event or its impacts. Which of the following response have you implemented?

• A.Acceptance
• B.Mitigation
• C.Avoidance
• D.Contingent response
• E.Explanation:
  Contingent response strategy, also known as contingency planning, involves adopting alternatives to deal with the risks in case of their occurrence. Unlike the mitigation planning in which mitigation looks to reduce the probability of the risk and its impact, contingency planning doesn't necessarily attempt to reduce the probability of a risk event or its impacts. Contingency comes into action when the risk event actually occurs.
• F.is incorrect. Risk mitigation attempts to reduce the probability of a risk event and its impacts to an acceptable level. Risk mitigation can utilize various forms of control carefully integrated together. The main control types are:
  Managerial(e.g.,policies)
  Technical (e.g., tools such as firewalls and intrusion detection systems)
  Operational (e.g., procedures, separation of duties)
  Preparedness activities
• G.is incorrect. Risk acceptance means that no action is taken relative to a particular risk;
  loss is accepted if it occurs. If an enterprise adopts a risk acceptance, it should carefully consider
  who can accept the risk. Risk should be accepted only by senior management in relationship with
  senior management and the board. There are two alternatives to the acceptance strategy, passive
  and active.
  Passive acceptance means that enterprise has made no plan to avoid or mitigate the risk but
  willing to accept the consequences of the risk.
  Active acceptance is the second strategy and might include developing contingency plans and
  reserves to deal with risks.

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Which of the following is the MOST important element of a successful risk awareness training program?

• A.Customizing content for the audience
• B.Mapping to a recognized standard
• C.Providing metrics for measurement
• D.Providing incentives to participants

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A PRIMARY function of the risk register is to provide supporting information for the development of an organization's risk:

• A.process.
• B.map.
• C.strategy.
• D.profile.

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For which of the following risk management capability maturity levels do the statement given below is true?
"Real-time monitoring of risk events and control exceptions exists, as does automation of policy management"

• A.Level 3
• B.Level 0
• C.Level 5
• D.Level 2

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John is the project manager of the HGH Project for her company. He and his project team have agreed that if the vendor is late by more than ten days they will cancel the order and hire the NBG Company to fulfill the order. The NBG Company can guarantee orders within three days, but the costs of their products are significantly more expensive than the current vendor. What type of response does John adopt here?

• A.Contingent response strategy
• B.Risk avoidance
• C.Risk mitigation
• D.Expert judgment

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