Risk management 12 Flashcards
1
Q
risk is a combination of
A
the chance of an even happening
and the outcome if it happens
2
Q
examples of risk in construction
A
productivity of labour
clientrs reuirements
earthquakes
ground conditions
3
Q
greates impact of management action when?
A
at start of project, bc most uncertainty, most money
4
Q
when is most important time to apply risk management
A
project sanction
5
Q
fundamental steps of risk management
A
identification
analysis
response
6
Q
% of occuring for medium risk
A
30%-70%
7
Q
risk mitigation handeling options
A
Accept avoid-adjust program to eliminate control-implement actions to minimize transfer-give someone else the risk accept-monitor the environment for changes that affec tthe risk
