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EXAM 2 (EGS4625 - FUNDAMENTALS OF ENGINEERING PROJECT MANAGEMENT) EXAM 2025 QUESTIONS AND ANSWERS
EXAM 2 (EGS4625 - FUNDAMENTALS OF ENGINEERING PROJECT MANAGEMENT) EXAM 2025 QUESTIONS AND ANSWERS
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FUNDAMENTALS OF ENGINEERING
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FUNDAMENTALS OF ENGINEERING
EXAM 2 (EGS4625 - FUNDAMENTALS OF ENGINEERING PROJECT MANAGEMENT) EXAM 2025 QUESTIONS AND ANSWERS
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| Uploaded on: | September 5, 2025 |
| Last updated: | September 5, 2025 |
| Number of pages: | 24 |
| Written in: | 2025/2026 |
| Type: | Exam (elaborations) |
| Contains: | Questions & Answers |
| Tags: | EXAM 2 (EGS4625 - FUNDAMENTALS OF ENGINEERING PROJECT MANAGEMENT) EXAM 2025 QUESTIONS AND ANSWERS |
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EXAM 2 (EGS4625 - FUNDAMENTALS OF ENGINEERING PROJECT MANAGEMENT) EXAM 2025 QUESTIONS AND ANSWERS What is "risk"? - ....ANSWER ...-Risk = uncertainty of an event/consequence - it's inherent in every project - can be good or bad - don't fear risk, manage it Risk = opportunity Risk utility (or risk tolerance) - ....ANSWER ...-The amount of satisfaction or pleasure received from a potential payoff Risk strategies - ....ANSWER ...-Allocation - directs responsibility and control Mitigation - the 'art' of managing risks Avoidance - don't take on the risk Types of risk (from a PM's perspective)? - ....ANSWER ...-- Direct Control - Influenced Only - Outside of Control Directly controllable risks - ....ANSWER ...-- Client Selection ....FOR STUDY PURPOSES...©️2025 ALL RIGHTS RESERVED... 1
