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While executing a building construction project, the supplier may delay the delivery and increase the cost of materials due to new safety regulations. The team has identified an option to absorb the cost by reducing the lag for some of the tasks. What should the team do to ensure that this situation is managed?
Correct Answer: C
Since the risk has already been identified (supplier delays and cost increases due to safety regulations) and the team has already determined a response strategy (absorbing the cost by reducing lag in tasks), the next step is to implement the response. This involves: - Adjusting the schedule to reduce lag where possible. - Monitoring supplier performance. - Managing budget adjustments accordingly.