Compare the cost risk and time risk in any typical construction project; include similarities, differences, means of identifying the risks, and responses to each.


Description

Unless otherwise stated, answer in complete sentences, and be sure to use correct English, spelling, and grammar. Sources must be cited in APA format. Your response should be four (4) double‐spaced pages; refer to the “Format Requirementsʺ page for specific format requirements.

1. Describe one (1) inherent advantage and one (1) disadvantage in measuring project duration in calendar days. Describe one (1) inherent advantage and one (1) disadvantage in measuring project duration in working days.

2. Describe three (3) different ways that progress on construction projects can be monitored. Which method do you believe is most efficient and effective? Provide two (2) supporting facts to justify your position.

3. Compare the cost risk and time risk in any typical construction project; include similarities, differences, means of identifying the risks, and responses to each.

4. To minimize the chance of losses, suggest one (1) methodology to follow when a delay, that has the potential of resulting in litigation, occurs on a construction project.

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