What is the Spectrum of Risk?
Q: What are the primary concepts involved in risk management?
A:
Q: How can a party share the risk?
A: In a construction project, there are many unforeseen contingencies such as geological conditions,…
Q: What are the Methods and procedures for providing tiebacks?
A: Various types of restrained wall systems such as tiebacks, screw anchors, dead men anchors, soil…
Q: What are the principal issues that should be considered in the allocation and assumption of risk…
A: A basic principle of risk management is that owners and contractors should predict future project…
Q: What are the legal barriers for State and local public Projects?
A: The public projects are the one which is funded by the government authorities for the public welfare…
Q: Who can best assume the risk at the Risk Management?
A: Risk is refers to the probability and the consequences of an event. Risk management is the method of…
Q: 1. What levels of risk are realistic to assume?
A: Risk and construction, both runs parallel or simultaneously. Even the most carefully planned…
Q: When do Finance Failure Risks occur?
A: The financial failure risk is the possibility of losing the money invested on a project or any work,…
Q: What are Contractual and Legal risks?
A: The success of lenders, owners, contractors or sub-contractors can depend upon how well each of them…
Q: How should the risks be allocated?
A: Risk allocation is basically a technique or method of identifying the risks and deciding whether…
Q: What role does risk management play in the management of construction
A: Risk management is the process of identifying and analyzing the hazards that your company faces, as…
Q: How can the Risks be identified?
A: - Risk are uncertainties arises which result in delay and loss occurring during any project. -…
Q: Which principles are essential to an effective risk management program?
A: Risk management is a term used for finding out the potential risks in advance, analyzing the risk,…
Q: What are the four fundamental concerns that must be addressed by the value engineer?
A: The engineer is responsible for the completion of the construction project. The engineers work hard…
Q: How are Risks Allocated?
A: Construction projects are technically of large value with time period of many years. The projects…
Q: What is cost-of-service pricing? What is the relationship between value-of-service pricing and…
A: In type of cost-of-service pricing can be simply described as the cost for providing a particular…
Q: . What are the payment provisions under JCT?
A: JCT Standard Building Contract 2011 payment terms are relatively complex. The system relies on the…
Q: What are the types of risk in Risk management?
A: Risk management is used for locating out the possible risks in advance, analyzing the risk, and…
Q: What are the legal barriers for local public projects?
A: The government authorities are owners or sponsors of the public project which aims at the public…
Q: If you found a purse, it to the teacher?
A: 1. if you found a purse, ---------------- it to the teacher. Answer option 4 : Would you give if you…
Q: What are the Pre-req of LEED SS credit?
A: Leadership in Energy and Environmental Design (LEED) is a rating system that can to the following…
Q: Who is responsible of sharing the risk problems at construction projects?
A: The given question is to determine the responsibility of sharing risk problems at construction…
Q: Employers avoid lawsuits by financing the Workplace Safety and Insurance Board (WSIB).
A: solution As we know that WSIB is controlled by board of directors
Q: What is the cost-plus incentive fee?
A: Cost plus incentive fee Cost plus incentive fee is a fee amount in which there is a fixed amount and…
Q: What are the benefits of Employer Liability Insurance?
A: Employer Liability Insurance It is useful for a person/owner when one of his/her workers meets with…
Q: Why is it important to have a planned maintenance program for tools and equipment?
A: Que:- Why is it important to have a planned maintenance program for tools and equipment?
Q: What are the physical risks at risk management?
A: Risk management is used for finding out the potential risks in advance, examining the risk, and…
Q: Is it vital to practise risk management while managing construction or information technology…
A: Risk management is the method of limiting or managing risk. In this process risk is identified and…
Q: What are the basics of risk management and uncertainty? Why is it important to understand these…
A: Letus understand what is mean by the risk Risk : risk is accompanied by potential loss Where…
Q: How can the Disputes be solved in risk management?
A: Risk management is important for preventing legal disputes.
Q: What kind of cost-saving measures can be taken?
A: - Various measures to be taken for cost saving includes : 1- Use of alternative material - Use of…
Q: How can different risks be allocated?
A: The construction industry has different risks which may affect the completion of project and cause…
Q: What types of coverage are provided under a guarantee?
A: The guarantee period for building contracts is one or two years. The complete project's one-year…
Q: What is a calculated risk?
A: A hazard or chance of failure whose degree of probability has been reckoned or estimated before some…
Q: What is Risk Allocation?
A: The risk allocation is defined as “the process of identifying the risk factors and determining how…
Q: What are the rights of all the parties in construction operations?
A: The construction of huge projects requires expertise from every field. It involves collaboration of…
Q: Explain the statement Contractual Allocation of Risks?
A: Risk is defined as term which is used to denote the probability or chances of experiencing any…
Q: Explain the statement 'submittal of evidence insurance'?
A: The proof of valid insurance with an insurance company which is provided to another individual for…
Q: Who is responsible for resolving the dispute?
A: Mediation The mediation aim is to have a neutral third party helping disputants reach consensus at…
Q: What is Employers Liability Insurance?
A: Employers' liability insurance is also known as employment practices liability insurance which used…
Q: Explain the principal guideline in determining whether a risk should be transferred or not?
A: In civil construction projects , if the projects are very large there are many uncertain conditions…
Q: How can the Rights of way minimize the loss in Risk Management?
A: The essential loss control strategies are given as: Avoidance: This process is associated with…
Q: Name the six categories of risk.
A: The term risk is an aspect of action which has been taken even with uncertainty. The risk can also…
Q: What are the two basic precepts that should be recognized as the criteria for sharing of risk?
A: The activities on site that cause the negative and undesirable consequences due to some uncertainty…
Q: How can the risks be minimized?
A: Risk - A construction risk can be defined as any exposure to possible loss. Expose (someone or…
Q: What are the different types of Risks?a
A: The condition in which there is possibility of hazard or something bad happening is known as risk.…
What is the Spectrum of Risk?
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