There are several strategies for dealing with risks, such as the "risk implementation strategy," which means:

A "risk implementation strategy" refers to the operational execution of a pre-defined risk response or treatment plan. This action is typically triggered when continuous risk monitoring indicates that a risk's likelihood or impact has increased to a level that exceeds the organization's established risk appetite or tolerance. The strategy involves activating the planned countermeasures to confront the escalated risk, with the goal of mitigating its effects and bringing the organization's risk exposure back within acceptable limits. This is a core component of the "Respond" and "Monitor" steps within established risk management frameworks.

A. This option is incorrect because it conflates risk transfer (using insurance) with risk removal (avoidance) and describes a specific tactic, not the overarching implementation process.

B. This describes risk mitigation or avoidance, which are types of risk treatment strategies themselves, not the act of implementing a plan in response to a specific trigger.

1. COSO, Enterprise Risk Management — Integrating with Strategy and Performance. (June 2017). The framework states, "The organization selects risk responses... and implements its chosen set of risk responses." It emphasizes that responses are implemented based on ongoing monitoring of risk levels against the entity's risk appetite. The scenario in option C, where a risk exceeds an acceptable amount, is the direct trigger for implementing such a response. (See: Principle 14: Selects Risk Responses, and Principle 17: Assesses Substantial Change).

2. National Institute of Standards and Technology (NIST), SP 800-37 Rev. 2, Risk Management Framework for Information Systems and Organizations. (December 2018). The "MONITOR" step of the RMF involves continuously monitoring for changes. The document states, "Effective monitoring requires the organization to... respond to the identified risk in accordance with the organizational risk management strategy." This directly supports the idea of implementing a plan ("respond") when a risk changes or increases significantly. (See: Section 2.8, MONITOR, Page 21).

3. Chapman, C., & Ward, S. (2003). Project Risk Management: Processes, Techniques and Insights. In academic literature on risk management, the concept of contingency planning is central. A contingency plan is a pre-defined work plan that is implemented only if a specific trigger event occurs, such as a risk materializing or its assessment changing significantly. Option C perfectly describes the implementation of such a plan. (See: Chapter 7, "Planning risk response development and the risk response process").

4. de Neufville, R. (2011). ESD.77 Multidisciplinary System Design Optimization. Fall. Massachusetts Institute of Technology: MIT OpenCourseWare. Lecture notes on risk management emphasize that risk handling involves creating plans that are implemented based on triggers. "Contingency planning is a key part of risk mitigation. It involves developing a plan that will be executed if the risk event occurs." This aligns with implementing a work plan when a risk increases beyond an acceptable level. (See: Lecture 20, Risk and Uncertainty).