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BICSI Exam RCDDv14.1 Topic 1 Question 38 Discussion

Actual exam question for BICSI's RCDDv14.1 exam
Question #: 38
Topic #: 1
[All RCDDv14.1 Questions]

A regional finance program is impacted by a new currency regulation issued by a country in the region. The new regulation requires changes to the financial statements of that country's branches by the end of the fiscal year Failing to comply with the regulation may result in fines and/or closure of the branches. A branch general manager immediately meets with the program manager to select and secure a local fiscal expert to support the regulation as these types of resources are in high demand. There is a high risk that the changes will not be completed on time if the resource is not secured

What should the program manager do to address the risk?

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Suggested Answer: A

by Viola at Aug 26, 2024, 05:37 AM

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Octavio
2 days ago
I think option B makes the most sense. Better to plan for the worst!
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Tran
8 days ago
Sounds like a tight deadline! They need to act fast.
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Laine
14 days ago
Building a coalition sounds appealing, but I doubt it would work in such a short time frame. I think we need to focus on immediate actions, like securing that fiscal expert.
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Maryann
19 days ago
I feel like option C might be too focused on just one expert. What if they can't deliver? I think we should consider a broader strategy, maybe something like option D.
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Micaela
24 days ago
I'm not entirely sure, but I think creating scenarios like in option B could help us understand the potential impact better. It might be a good way to prepare for the worst-case situation.
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Brett
1 month ago
I remember a practice question about risk management that emphasized the importance of assessing risks and incorporating them into a plan. Option D seems like a solid choice.
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Franklyn
1 month ago
This is a tough one. I like the idea of building a coalition to try to renegotiate the deadline, but that might be a long shot. Creating contingency plans for the fines and closures seems prudent as well.
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Melda
1 month ago
Okay, let's see here. I think the key is to secure that local fiscal expert as quickly as possible. Maybe a delivery incentive contract could work well to ensure they get the job done on time.
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Elfriede
1 month ago
Hmm, I'm a bit unsure about this one. There are a few different approaches, but I'm not sure which one would be the best fit. I'll need to think it through carefully.
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Reid
1 month ago
This seems like a tricky situation with a tight deadline and high stakes. I'd want to carefully analyze the options and come up with a solid plan to mitigate the risk.
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Georgeanna
1 month ago
I’m not entirely sure, but I remember something about the fdisk command being more for partitioning disks, not cleaning them.
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Cassi
1 year ago
Option B is a bit too reactive for my liking. Better to be proactive and motivate that expert to get it done on time!
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Peter
1 year ago
Haha, I'm just imagining the fiscal expert doing a happy dance for that juicy delivery incentive. C is definitely the way to go.
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Sylvie
1 year ago
It's crucial for the program manager to assess the risk and incorporate it into the risk management plan to ensure everything runs smoothly.
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Marya
1 year ago
I think creating a contingency plan with fine and closure scenarios would also be a good idea to be prepared for any potential risks.
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Georgene
1 year ago
Yeah, it's important to make sure the changes are completed before the deadline to avoid any fines or closure of branches.
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Junita
1 year ago
Yeah, it's a smart move to ensure compliance with the new regulation and avoid any potential fines or closures.
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Jackie
1 year ago
I agree, that delivery incentive would definitely motivate the fiscal expert to get the job done on time.
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Marylyn
1 year ago
I agree, the delivery incentive contract would definitely motivate the fiscal expert to get the job done on time.
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Mertie
1 year ago
I believe generating a delivery incentive contract with the fiscal expert is crucial to ensure on-time delivery of the revised financial statements.
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Salome
1 year ago
D is also a good option, but I think C is more proactive and directly addresses the risk. Gotta love that carrot-and-stick approach!
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Alica
1 year ago
Creating a contingency plan based on fine and closure scenarios could also help mitigate the risk.
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Carry
1 year ago
I agree with Janessa. Meeting with the steering committee would also be a good idea to discuss the potential impact.
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Janessa
1 year ago
I think the program manager should assess the risk and incorporate it in the risk management plan.
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Mohammad
1 year ago
I agree, C is the best choice here. Incentivizing the expert to get the job done right and on time is crucial.
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Mirta
1 year ago
Agreed, offering a delivery incentive contract will help ensure the changes are completed on time.
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Jacquelyne
1 year ago
I think option C is the way to go. Incentivizing the expert is a smart move.
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Rossana
1 year ago
Option C seems like the way to go. A delivery incentive contract is a smart move to ensure the fiscal expert delivers on time.
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Anabel
1 year ago
Creating a delivery incentive contract will motivate the fiscal expert to complete the task on time.
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Lanie
1 year ago
It's important to have a plan in place to mitigate the risk of not meeting the deadline.
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Alease
1 year ago
I agree, option C is a proactive approach to ensure the deadline is met.
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