Compare and contrast a risk response and a contingency plan and identify the relevant differences of the two among the statements below:

I A response is a part of the actual implementation plan and action is taken before the risk can materialize

II A response is not a part of the actual implementation plan and action is taken after the risk can materialize

III A contingency plan is not a part of the initial implementation plan and only goes into effect after the risk is recognized

IV A contingency plan is a part of the initial implementation plan and goes into effect before the risk is recognized

Group of answer choices

I & III

II & III

I & IV

II & IV