____ are predefined actions that the project team will take if an identified risk event occurs.
A)Fallback plans
B)Contingency reserves
C)Contingency plans
D)Contingency allowances

Question

Quizplus · Accepted Answer

Contingency plans are predefined actions that the project team will take if an identified risk event occurs. These plans are developed during the planning phase of project risk management and are designed to minimize the negative impact of a risk event if it occurs. Contingency plans are different from fallback plans and contingency reserves, which are also part of project risk management. Fallback plans are backup plans that are put in place if the primary plan fails, while contingency reserves are amounts of time or money set aside in case a risk event occurs. Contingency allowances are not a recognized term in project risk management.

____ Are Predefined Actions That the Project Team Will Take