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Questions and Answers
What is the definition of risk in a project delivery context?
What is the definition of risk in a project delivery context?
- A certain event that will have an effect on the project's objectives
- A certain event that may have an effect on the project's objectives
- An event that will have an effect on the project's objectives
- An uncertain event that may have an effect on the project's objectives (correct)
What are some common risks prevalent in construction projects?
What are some common risks prevalent in construction projects?
- Political instability, strikes, and operational problems
- Weather, personnel problems, and financial gains
- Legal issues, design problems, and communication breakdowns
- Faulty materials, faulty workmanship, and inadequate plans (correct)
What is a construction contract?
What is a construction contract?
- A contract between an employer and a supplier
- A contract between a contractor and a subcontractor
- A contract between a contractor and an employer (correct)
- A contract between a contractor and an employee
What is the purpose of risk allocation in a construction contract?
What is the purpose of risk allocation in a construction contract?
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What is the employer's role in preparing the contract document bid package?
What is the employer's role in preparing the contract document bid package?
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