Risk Management for Construction and Engineering Projects – Assessment & Evaluation

Risk Management for Construction and Engineering Projects - Assessment & Evaluation

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1. A large-scale infrastructure project is following a Predictive approach. The project manager has identified several individual project risks, such as material price fluctuations and potential labor shortages. How should the project manager communicate these risks to the project sponsor?*

A. Provide a detailed list of all identified individual project risks with their likelihood and impact assessments.

B. Develop a heat map that visually represents the severity and probability of each individual risk.

C. Aggregate the individual project risks into a single overall project risk assessment, considering their combined impact on project objectives.

D. Recommend specific mitigation strategies for each individual project risk.

2. A construction project for a new bridge is following a Predictive approach. The project is currently in the Execution phase. During construction, the team encounters unexpected delays due to labour shortages. How should the project manager MOST effectively manage this risk according to the project management phases?*

A. Update the project charter to reflect the revised project schedule due to labour shortages.

B. Monitor the effectiveness of the implemented mitigation strategies for labour shortages.

C. Identify additional mitigation strategies such as offering higher wages to attract more workers.

3. A new airport terminal construction project is in the planning phase following a Predictive approach. The project team is populating the risk register. What information is NOT typically included in the initial risk register entry?*

A. Root Causes of Risks.

B. Risk Category.

C. Unique Risk Identification Number.

D. Risk Responses.

4. A new bridge construction project is using a Hybrid approach. During construction, the project team identifies a risk of exceeding the project budget due to cost overruns from unforeseen material price increases. Which information should the team update in the project risk register based on this scenario?*

A. Risk Probability.

B. Risk Category.

C. Risk Owner.

D. Risk Statement.

5. A new water treatment plant project is following a Predictive approach. The project team is finalizing the risk register. What is the PRIMARY purpose of maintaining a watch list of low priority risks?*

A. To quickly identify and address all potential project risks.

B. To track the effectiveness of implemented risk responses.

C. To monitor low-priority risks for potential changes in probability or impact that might elevate their importance.

D. To document lessons learned about managed risks for future projects.

6. A large-scale infrastructure development project is following a Predictive approach. The project manager is preparing a risk report for key stakeholders. What is the PRIMARY purpose of a risk report in this context?*

A. To inform stakeholders about the overall risk profile of the project and how risks are managed.

B. To provide detailed instructions on how to respond to individual project risks.

C. To assess the effectiveness of implemented risk responses.

D. To document lessons learned about managed risks for future projects.

7. A large-scale dam construction project is following a Predictive approach. The project manager has identified a significant risk of delays due to potential labour strikes. What is the MOST important action for the project sponsor to take in this scenario?*

A. Develop a detailed mitigation strategy for managing labour strikes.

B. Allocate additional budget to the project in case a labour strike disrupts the schedule.

C. Communicate the risk of labour strikes to key stakeholders and obtain their input on risk management strategies.

D. Review and approve the overall risk management plan for the project.

8. A new bridge construction project is using a Hybrid approach. During construction, the project team encounters a risk of delays due to unexpected weather conditions. The project engineer is assigned as the risk owner for this scenario. What should the project engineer do as the risk owner to proactively manage this risk?*

A. Update the project schedule to reflect potential delays caused by bad weather.

B. Develop alternative construction methods that are less weather-dependent.

C. Request additional resources from the project manager to expedite construction in case of bad weather.

D. Monitor weather forecasts and report any potential disruptions to the project manager.

9. A new high-speed rail line project is using a Hybrid approach. During construction, the project team encounters a minor software glitch in a critical train control system. The project sponsor, a risk-neutral decision-maker, asks for a thorough analysis of the potential impacts of the glitch before deciding on a course of action. What does the sponsor's risk-neutral approach suggest in this scenario?*

A. The sponsor wants to prioritize fixing the glitch immediately without further analysis.

B. The sponsor is comfortable accepting the risk of the glitch and proceeding with construction.

C. The sponsor wants to delay the project until a permanent solution to the glitch is identified.

D. The sponsor prefers to avoid fixing the glitch altogether to save on costs.

10. A new oil pipeline construction project is in the planning phase following a Predictive approach. The project team is identifying potential risks. One risk is equipment breakdowns that could delay construction. During a project schedule review, the project planner notices that several critical equipment items are nearing the end of their useful life expectancy. What action should the project team take MOST immediately based on this information?*

A. Increase the project budget to account for potential equipment repair costs.

B. Develop a preventative maintenance program to address potential equipment

breakdowns.

C. Identify alternative equipment rental companies in case breakdowns occur.

D. Document this information as a risk trigger in the project risk register.

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