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COSC 153 Chapter 14 fully solved & updated(passed).
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COSC 153 Chapter 14 fully solved & updated(passed).
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COSC 153 Chapter 14fully solved &
updated(passed)
Contingencies - answer Amount of money added to an estimate to cover
unknown conditions or risk factors
Joint Venture - answer When two or more construction companies enter
into an agreement for a one time single, project commitment and share
resources and risks to manage and build the project
Contract Indemnification - answer Provisions in a contract that provide
protection against potential financial loss, damage, or liability
Latin Design Defect - answer Defects or flaws in design details that are
not known until after construction is complete and time has passed
allowing for a flaw or defect to show itself
Name the six different categories that most risk factors generally fall
under. - answer Pre-bid risks
Design risks
Construction risks
Political/legal/regulatory risks
Financing risks
Environmental risks
Name at least three types of construction risks. - answer Labor
availability
Quality of labor pool
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