CAPM (Certified Associate in Project Management) Practice Exam

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What are contingent response strategies focused on?

Eliminating threats entirely
Defining and tracking events that trigger the contingency response
Allocating risks to third parties
Ensuring opportunities are realized

The correct answer is: Defining and tracking events that trigger the contingency response

Contingent response strategies are focused on identifying and addressing potential risks or problems that may arise during a project or business operation. The goal is not to eliminate all threats entirely, as this may not be feasible, but rather to define and track events or triggers that could potentially lead to negative outcomes. Option C, allocating risks to third parties, is incorrect because contingent responses are typically implemented internally by a company or organization, rather than relying on others to manage risks. Option D, ensuring opportunities are realized, is incorrect because while part of the goal of using contingent responses is to minimize risks, the main focus is on addressing potential problems, not maximizing opportunities.