Section: Volume D
Explanation:
When the risk events occur then following tasks have to done to react to it:
* Maintain incident response plans
* Monitor risk
* Initiate incident response
* Communicate lessons learned from risk events
Incorrect Answers:
C: Risk register is updated after applying appropriate risk response and at the time of risk event occurrence.

Explanation/Reference:
Explanation:
The only two inputs for the risk response planning are the risk register and the risk management plan.
The plan risk response project management process aims to reduce the threats to the project objectives and to increase opportunities. It follows the perform qualitative risk analysis process and perform quantitative risk analysis process. Plan risk response process includes the risk response owner to take the job for each agreed-to and funded risk response. This process addresses the risks by their priorities, schedules the project management plan as required, and inserts resources and activities into the budget.
The inputs to the plan risk response process are as follows:
Risk register

Risk management plan

Incorrect Answers:
B: Kelly will not need the risk response plan until monitoring and controlling the project.
C: The results of risk analysis will help Kelly prioritize the risks, but this information will be recorded in the risk register.
D: Kelly needs the risk register and the risk management plan as the input. The power to assign risk responses is not necessarily needed by Kelly.

Section: Volume D

Section: Volume D
Explanation:
Direct extraction from the source system involves management monitoring its own controls, instead of auditors/ third parties monitoring management's controls. It is preferable over extraction from the system custodian.
Incorrect Answers:
B: Extracting data from the system custodian (IT) after system owner approval, involves auditors or third parties monitoring management's controls. Here, in this management does not monitors its own control.
C, D: These are not data extraction methods.

Explanation/Reference:
Explanation:
Because this change deals with the change of the deliverable, it should pass through the cost change control system. The cost change control system reviews the reason why the change has happened, what the cost affects, and how the project should respond.
Incorrect Answers:
B: This is not a contract change. According to the evidence that a contract exists or that the cost of the materials is outside of the terms of a contract if one existed. Considered a time and materials contract where a change of this nature could be acceptable according to the terms of the contract. If the vendor wanted to change the terms of the contract then it would be appropriate to enter the change into the contract change control system.
C: The scope of the project will not change due to the cost of the materials.
D: There are four change control systems that should always be entertained for change: schedule, cost, scope, and contract.