QUESTION 25 3.129 A key distinction between a risk response and a contingency plan is O A risk response is action that is the response to a risk once it has happened and the contingency plan is created by the customer if the risk response fails. O A risk response is created by the project team and the project manager while the project manager and the customer agree on the contingency plan. O A risk response is established only for moderate risks while contingency plans are established for major risks. O A risk response is only effective when you are able to assess the likelihood of the risk and its impact on the project: all other risks are covered by contingency planning. O A risk response is part of the acthe implementation plan and action is taken before the risk can materialize, while a contingency plan goes into effect only after the risk has transpired