Question 27 (5 points) You have a risk event for the Silver Fiddle Construction project: Electrical contractor doesn't show up on time delaying installation of electrical system. What is a properly constructed mitigation strategy for this risk event? A) Avoid B) Mitigate: Do the work yourself when he doesn't show up C) Transfer: Buy insurance against project delays due to subcontractors not meeting dates. D) Both B and C are good response strategies. Question 28 (5 points) What is the difference between a mitigation strategy and a contingency plan? Question 29 (5 points) You have $200K allocated for risk management expenses. For your highest ranked risk: Risk 1 you have chosen to mitigate the risk and identified a mitigation plan that will cost $350K. If management will not give you any additional funding for risk management, what are your options? A) Change the mitigation strategy to "Accept" B) Develop a mitigation plan that costs less than $200k C) Change the mitigation plan to a contingency plan D) Pursue the mitigation plan anyway E) Either A or B Question 30 (5 points) How many times should a risk assessment be done on a project? A) At the end of the project B) Every day C) Once at the beginning of the project D) Every time we report status