Project Management Flashcards

Which risk response strategy involves transferring a project risk to a third party, such as through insurance or a fixed-price contract?

Answer: Transfer

Risk transfer shifts the financial consequences of a risk to a third party. The risk itself is not eliminated, but another party (insurer, contractor) bears the financial impact.

A Canadian municipal infrastructure project experiences a scope change requested by the owner. Under CCDC 2, which document formally incorporates this change into the contract?

Answer: A site instruction followed by a Change Order

CCDC 2 uses a two-step process: the consultant issues a Contemplated Change Notice or verbal direction, followed by a formal Change Order signed by the owner and contractor to modify the contract price and/or time.

Which procurement method is most appropriate when the owner wants competition on both price and technical approach for a complex engineering project?

Answer: Best-value RFP with weighted evaluation

A best-value Request for Proposals (RFP) with a weighted scoring matrix allows the owner to evaluate both technical merit and price, selecting the proposal that offers the best overall value rather than simply the lowest bid.

During project closeout, the engineer-of-record prepares as-built drawings. What is the primary purpose of these documents?

Answer: To document the actual constructed conditions for future operations, maintenance, and modifications

As-built drawings record deviations from the design drawings that occurred during construction, providing an accurate record of constructed conditions essential for future maintenance, renovations, and emergency response.

A project manager notices that a key team member is consistently producing work below expectations due to a personal matter. Which leadership approach is most appropriate in the short term?

Answer: Have a private conversation to understand the situation and discuss support options

Effective project leadership involves understanding the human context of performance issues before taking corrective action. A private, empathetic conversation allows the PM to understand root causes and explore solutions.

Which statement correctly describes the difference between a project milestone and a project deliverable?

Answer: A deliverable is a tangible output; a milestone is a significant point in the schedule with zero duration

A deliverable is a tangible, verifiable output (report, design, structure). A milestone is a significant event or point in the project schedule, represented as an activity with zero duration, used to mark project progress.