Question

When developing baseline standards, it is vital to use industry best practices. Industry best practices standards enable one to justify choices being made to regulators. Furthermore, there is increased efficiency to be gained by modifying an existing standard as opposed to creating one from the ground up.
True or False?

Answer 1

Answer: True

Explanation: There is always that opportunity to perfect existing industry standards and several analysis would have already be done which saves you a great deal of financial stress and a possible loss.