Construction Project Planning Flashcards

In a risk register, a risk with a 20% probability and a $150,000 impact has an expected monetary value of:

Answer: $30,000

EMV = probability x impact = 0.20 x $150,000 = $30,000.

Purchasing builder's risk insurance to cover potential fire damage during construction is an example of which risk response?

Answer: Transfer

Insurance shifts the financial consequence of a risk to a third party, which is risk transfer.

Which activity relationship is rarest in construction scheduling and generally discouraged?

Answer: Start-to-Finish

Start-to-Finish relationships are counterintuitive and rarely appropriate, so most scheduling specifications discourage them.

When multiple paths have zero total float, the project is said to have:

Answer: Multiple critical paths, increasing schedule risk

Several zero-float paths mean delays on any of them delay completion, increasing overall schedule risk.

Which project delivery method allows a construction manager to provide preconstruction planning services and then hold trade contracts with a guaranteed maximum price?

Answer: Construction Manager at Risk

CM at Risk provides preconstruction input and then assumes delivery risk under a GMP.

An activity's duration is calculated as 2,400 SF of formwork at a crew productivity of 300 SF per day. What is the duration?

Answer: 8 days

Duration = quantity / productivity rate = 2,400 / 300 = 8 days.

Which of the following best describes a schedule 'milestone' activity?

Answer: A zero-duration event marking a significant point

Milestones have zero duration and mark key events like substantial completion or dry-in.