RAIC Document Six 2018 Updates

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Which of the following best describes the concept of risk in project management?

An uncertain event or condition that has a negative effect on a project's objectives (correct)

A certain event or condition that has a negative effect on a project's objectives

An uncertain event or condition that has a positive effect on a project's objectives

A certain event or condition that has a positive effect on a project's objectives

Which of the following is true about risk in business enterprises?

Risk has no impact on business enterprises

Risk includes both opportunities and threats (correct)

Risk only includes threats

Risk only includes opportunities

What is the nature of risk in project management?

Risk is only present during the life of a practice

Risk is inherent in project management (correct)

Risk is not a concern for architects

Risk can be completely eliminated

What is the purpose of risk management in architectural practice?

To transfer and mitigate the probability and impact of potential threats Signup and view all the answers

According to the text, what is the importance of team chemistry in a project?

All of the above. Signup and view all the answers

What should architects consider when instructed to use a client-preferred subconsultant?

All of the above. Signup and view all the answers

What is recommended for architects when entering into agreements with subconsultants?

Paying attention to insurance requirements and limitations of liability provisions. Signup and view all the answers

What type of consultants are responsible for the investigation of existing assets or conditions?

All of the above. Signup and view all the answers

Which of the following is a potential risk when a firm undertakes a project beyond its capabilities?

Reduced stakeholder satisfaction Signup and view all the answers

What is one reason why residential condominium projects are considered higher-risk for architects?

Unrealistic expectations of purchasers Signup and view all the answers

Which project delivery methods may increase the degree of risk for architects?

Design-build and public-private partnership (P3) projects Signup and view all the answers

What is one option for an architectural practice to minimize risk when pursuing a project?

Form a joint venture with another practice Signup and view all the answers

According to the text, what should an architect do if the proposed contract terms are significantly different from association-sanctioned agreements?

Review them with legal counsel and professional liability insurer Signup and view all the answers

What should an architect be careful not to do when preparing a proposal document?

Overpromise or overcommit Signup and view all the answers

What should an architect consider before signing a confidentiality and non-disclosure agreement (NDA)?

Consult with legal counsel Signup and view all the answers

What is one potential disadvantage of having a third-party project manager in place?

Loss of direct communication with the client Signup and view all the answers

According to the text, what are the key components of a comprehensive risk management strategy?

Identification of risk, assessment of risk probability and impact, development of a plan to respond to risk, and monitoring of practice and project activities Signup and view all the answers

What is the best advice given in the text regarding unreasonable contractual conditions?

To say 'No' to unreasonable contractual conditions Signup and view all the answers

What is the purpose of a GO/NO GO checklist in project risk management?

To identify potential threats and issues that need to be addressed before pursuing a project opportunity Signup and view all the answers

Why is it important for a practice to evaluate a prospective client before accepting a commission?

To reduce significant business risk Signup and view all the answers

According to the text, which of the following is true about the RAIC Document Six?

It reflects a balanced approach to the contractual relationship between client and architect. Signup and view all the answers

What is one of the best ways to minimize risk in a client-architect agreement?

Spending time with the client to discuss the agreement clause by clause. Signup and view all the answers

What should an architect do if the client is a corporation?

Ensure that the person signing the agreement has the authority to commit the corporation. Signup and view all the answers

Why should an architect review a client's 'standard agreement' form carefully?

To ascertain the extent of risk being assumed over and above those in the standard forms of agreement. Signup and view all the answers

Which of the following is NOT an example of a client-initiated variation to the standard forms of agreement?

Architect will guarantee building permit will be issued Signup and view all the answers

What is a potential consequence of clauses inserted in client-prepared contracts that increase the architect’s liability?

They may not be covered by professional liability insurance Signup and view all the answers

According to the text, what should the architect never do?

Warrant or guarantee any aspect of professional services Signup and view all the answers

Which of the following is NOT an example of a clause that may be inserted in a client-prepared contract?

Architect to engage surveyor, geotechnical engineer, and hazardous materials consultant Signup and view all the answers

What does the text mention as a potential consequence of client-initiated variations to the standard forms of agreement?

Increased liability for the architect Signup and view all the answers

What is provided as an additional reference at the end of the chapter?

Checklist: Contract Review Signup and view all the answers

RAIC Document Six 2018 Updates

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Questions and Answers

Which of the following best describes the concept of risk in project management?

Which of the following is true about risk in business enterprises?

What is the nature of risk in project management?

What is the purpose of risk management in architectural practice?

According to the text, what is the importance of team chemistry in a project?

What should architects consider when instructed to use a client-preferred subconsultant?

What is recommended for architects when entering into agreements with subconsultants?

What type of consultants are responsible for the investigation of existing assets or conditions?

Which of the following is a potential risk when a firm undertakes a project beyond its capabilities?

What is one reason why residential condominium projects are considered higher-risk for architects?

Which project delivery methods may increase the degree of risk for architects?

What is one option for an architectural practice to minimize risk when pursuing a project?

According to the text, what should an architect do if the proposed contract terms are significantly different from association-sanctioned agreements?

What should an architect be careful not to do when preparing a proposal document?

What should an architect consider before signing a confidentiality and non-disclosure agreement (NDA)?

What is one potential disadvantage of having a third-party project manager in place?

According to the text, what are the key components of a comprehensive risk management strategy?

What is the best advice given in the text regarding unreasonable contractual conditions?

What is the purpose of a GO/NO GO checklist in project risk management?

Why is it important for a practice to evaluate a prospective client before accepting a commission?

According to the text, which of the following is true about the RAIC Document Six?

What is one of the best ways to minimize risk in a client-architect agreement?

What should an architect do if the client is a corporation?

Why should an architect review a client's 'standard agreement' form carefully?

Which of the following is NOT an example of a client-initiated variation to the standard forms of agreement?

What is a potential consequence of clauses inserted in client-prepared contracts that increase the architect’s liability?

According to the text, what should the architect never do?

Which of the following is NOT an example of a clause that may be inserted in a client-prepared contract?

What does the text mention as a potential consequence of client-initiated variations to the standard forms of agreement?

What is provided as an additional reference at the end of the chapter?

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