QUIZ 2: RISK MANAGEMENT

October 3, 2022

BY: AR. JOEVAN F. RONA, UAP

You have 1 minute to answer after a question has
been read.

A question will be read twice before revealing the

choices.

A situational question is equivalent to 2 points.

1. Under health and safety, site employees working at an
elevated level to about 2m or more shall be provided by
________________ to protect them from accidental fall.

a. Safety shoes
b. Hard hat
c. Protective clothing
d. None of the above
2. A risk referring to inclement weather conditions, natural
disasters, accessibility to the site, pollution and safety norms.

a. Financial Risk
b. Socio-Political risks
c. Environmental risks
d. Construction-related risks
3. Is a must-have for any company. It must have easy-to-follow
yet detailed processes to help you control the risks, make
decisions on how to deal with them, and turn them around
to boost your company.

a. Risk Management
b. Project Management
c. Management
d. Construction Management
*2 points

4. As a project manager, how do you prevent a project with rapid

increasing scope as the project progresses (i.e., “while we’re at
it” syndrome of client).

a. Be clear up front about phasing projects and let clients know

that the best time to do everything is now, all at once.
b. Follow client’s impulses on revisions, not worrying scope piling
up since it can be solved by the contractor/ construction
manager.
c. Create an instant cost estimate each time a client wants
revisions on the spot.
d. Advise client to create his/her own spreadsheet so he/she
realizes that it’s not that easy to have too much additions as the
project progresses.
5. It means protecting a person from diseases, injury or death,
which are related to his work.

a. Health
b. Sanitation
c. Safety
d. Precaution
6. A risk referring to amendments in governmental laws and
regulations, law and order, bribery, payment failure by the
government, increase in taxes and change in government.

a. Financial Risk
b. Socio-Political risks
c. Environmental risks
d. Construction-related risks
7. Under health and safety, it should be worn for possible injury
due to falling debris and other related accidents.

a. Face shield
b. Hard hat
c. Protective clothing
d. Eye protection
8. Under risk response, what is the best response strategy for
projects in areas prone to earthquakes?

a. Avoid the risk

b. Transfer the risk
c. Mitigate the risk
d. Accept the risk
9. An example of a project risk.

a. “Never-ending” construction
b. Escalating costs
c. A worker getting Covid-19.
d. All of the above
10. A risk referring to exchange rates, material costs, market
demand, improper estimation, inflation, payment delays,
unmanaged cash flow and financial incompetence of the
contractor.

a. Financial Risk
b. Socio-Political risks
c. Environmental risks
d. Construction-related risks
11. An example of a high-impact, low-probability risk.

a. Increasing prices
b. Natural disasters
c. Contractor unable to fulfill their assigned tasks
d. Conflict between team members assigned with the design of
the building
*2 points

12. As a project manager, how do you prevent a project with

unsatisfactory construction?

a. Offer clients to provide enough planning that a qualified

contractor can build the project to the appropriate level of
quality.
b. Advise clients that their budgets do make a difference, and
that hiring the appropriate “level” of contractor will have better
results.
c. Both a and b
d. None of the above
13. A risk response strategy where you hire an insurance provider
or forge an agreement with a supplier or subcontractor to pass
the responsibility.

a. Avoid the risk

b. Transfer the risk
c. Mitigate the risk
d. Accept the risk
14. Order of risk management process is:

a. Risk Monitoring, Risk Control, Risk Identification, Risk

Assessment
b. Risk Identification, Risk Control, Risk Monitoring, Risk
Assessment
c. Risk Identification, Risk Assessment, Risk Monitoring, Risk
Control
d. Risk Identification, Risk Assessment, Risk Response, Risk
Monitoring and Control
15. A risk response strategy where you create plans to keep the
risk as low as possible; you create a contingency plan to work
around the risk.

a. Avoid the risk

b. Transfer the risk
c. Mitigate the risk
d. Accept the risk
16. Under risk response, what is the best response strategy for
workers that you may think need more training?

a. Avoid the risk by not hiring them

b. Mitigate the risk by training them and supplying proper safety
equipments
c. It is not your concern so just accept the risk
d. None of the above
17. Under risk identification, an activity where all the relevant
people associated with the project convene and discuss all the
aspects of the project comprehensively and raise their ideas and
thoughts foreseeing the risks in their perceptions.

a. Facilitating
b. Brainstorming
c. Doing checklists
d. Interviewing experts
18. A risk response where you may decide to accept the delays
caused by weather but you plan to manage the project better to
work around the problem.

a. Avoid the risk

b. Transfer the risk
c. Mitigate the risk
d. Accept the risk
 END.
Good luck!