Woolpert Risk Awareness Program - Module 1
17 Questions
| Total Attempts: 70
This quiz covers the material from Module 1. You MUST submit your name (First Name Last Name) so as to receive credit for your score.
Questions and Answers
- 1.True or false? The goal of the program is to help Woolpert staff understand and eliminate all risks involved with a project.
- A.
True
- B.
False
- 2.True or false? Over 50 percent of claims made against Woolpert result in litigation.
- A.
True
- B.
False
- 3.True or false? Risk is simply defined as the chance of an unwanted or adverse result.
- A.
True
- B.
False
- 4.True or false? There can be two sides to risk.
- A.
True
- B.
False
- 5.What is the best way to document a client’s expectations?
- A.
Phone call
- B.
Contract
- C.
Email
- D.
Handshake
- 6.Developing a contract and a well defined scope gives us a chance to help the client set reasonable:
- A.
Indemnification provisions
- B.
Schedules
- C.
Expectations
- D.
Insurance requirements
- 7.As a project progresses, it is typically necessary that what must be refined is:
- A.
Indemnification provisions
- B.
Schedules
- C.
Expectations
- D.
Insurance requirements
- 8.Risk Management involves a three step process that includes:
- A.
Analysis and resolution
- B.
Analysis and continued implementation
- C.
Initial action and resolution
- D.
Assumptions and continued implementation
- 9.True or false? The principle of N.I.M.B.Y. has impacted Woolpert.
- A.
True
- B.
False
- 10.True or false? Woolpert tries to manage every risk but is not able.
- A.
True
- B.
False
- 11.With respect to Woolpert, more than 50 percent of claims have been made by:
- A.
Clients
- B.
Third Parties
- C.
Subconsultants
- 12.The general categories for managing risk include avoiding the risk, assuming the risk but trying to mitigate it, and
- A.
Passing on a project
- B.
Utilizing a strong project manager
- C.
Using a life line
- D.
Transferring the risk
- 13.True or false? In analyzing the risk, Woolpert is more interested in the merely possible than the probable.
- A.
True
- B.
False
- 14.True or false? By including a limit of liability provision in a contract, a consultant caps the consultant’s liability to any party who may bring a claim against the consultant.
- A.
True
- B.
False
- 15.True or false? Insurance is a silver bullet for managing risk.
- A.
True
- B.
False
- 16.True or false? Many claims can be traced back to a communication failure between the client and the consultant.
- A.
True
- B.
False
- 17.True or false? A limit of liability provision is one way to transfer risk via contract.
- A.
True
- B.
False
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