Which of the following are contractual terms (Select all that apply)
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Q: decision-making
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Which of the following are contractual terms (Select all that apply)
NDA
MOU
LOI
MAO
CCB
Communication can include which of the following
Kick-off meetings
Listening
Outward
All of the above
Risk activities should be assigned
To a team
After a trigger occurs
Without being added to the Risk Register
To a single person
In priority order
What does CV stand for and what does it mean? (Select all that apply)
Cost Variance, calculated EV – AC
Continuous variability, measure of
Cost Variance, <1 is over
Cost Variance, >1 is over budget
Cost Variance, calculated AC – EV
Step by step
Solved in 3 steps
- 6.Differentiate one of these risk assessments that may be affected by psychological, ideological, religious orotherwise subjective factors, which impact rationality of the process.A. Individual risk assessmentB. Systems risk assessmentC. Simple risk assessmentD. All the above 7.All the statements below involve Risk mitigation EXCEPT A. Obtaining insurance against lossB. Developing system standards (policies, procedures, responsibility standards)C. Performing contingent planningD. Identification of project risks 8.Choose the TRUE statements regarding Risk Assessment.I. Identify hazards and risk factors that have the potential to cause harm.II. A source or a situation with a potential for harm in terms of human injury or ill health.III. Possibility of suffering harm or injury.IV. Analyze and evaluate the risk associated with that hazard. A. I, III & IVB. I & IIIC. I & IVD. I, II & IV 9.Identify two correct answers for Hierarchy of ControlI. EliminationII.…The purpose of a(n) is to prevent the leak of valuable information to other competitors. * Non-disclosureagreement Employment agreement Ownership agreement Compete agreement.Scenario: Sarah owns a coffee shop in Brantford, Ontario. 1. Describe one type of Consumer Sales Promotion you would recommend for the coffee shop. 2. Describe one type of Event Sponsorship you would recommend for the coffee shop. 3. Sarah wants to expand her business by providing catering services to local businesses. Describe one thing Sarah could do in the Prospecting step of personal selling. 4. Bob receives a personalized email from the coffee shop. The email suggests that Bob visit soon to get 10% savings on new types of cookies and cakes. Bob says this email is an example of advertising. Is Bob correct?
- 6. From taking care of risk perspective what should be done if the Impact of risk is high and likelihood of risk is low? A. Terminate B. Transfer C. Take more D. Communi cate 7. From taking care of risk perspective what should be done if the Impact of risk is low and likelihood of risk is low? A. Terminate B. Transfer С. Тake more D. Communi cate 8. The National Audit Office's report, Supporting Innovation: Managing Risk in Government Departments, mentions the risks that are most commonly identified by dep choice possible) A. Operational risk nt: financial risk, project risk, reputation-risks to and . (multiple ....... В. Market risk C. Missing an D. Complianc e risk opportunity riskDecision regarding the risk that is taken in the senior management orders when closing positions in investment portfolios to guarantee profitability for its clients, after an announcement from the FED that indicates that the possibility of losses in stock titles in the capital market has increased . Select one: a.Mitigation. b.Acceptance. c.Transfer. d.Control.4. Thainess Co., a mid-size firm, has set up its ERM framework and wants to assess whether its ERM components are working properly. To do this, what are some of the ways to judge "effective" ERM? a. Use the corporate scorecard results as an indicator of the effectiveness of ERM b. Assess whether risks have been controlled across COSO ERM Framework components with reasonable assurance that risk management will allow the firm's objectives to be achieved c. Assess ERM effectiveness by using the results of the financial auditor's report d. Review the firm's operational objectives and determine if each of them has been met 6. What would be the appropriate consolidation of reports by CAE? a. Significant events should be reported immediately, periodic written reports should cover key risk indicators on a scheduled basis, and the ERM plan should be reported during periodic presentations b. Risk owners should report every risk event timely, and the CAE is responsible for ensuring…
- Prepare a business proposal to attract funding which must include a monthly budget for 12 months for a new business selling personal protective equipment (PPE) online with a 2-day delivery window.2.8 Exercises 1. State if True (T) or False (F): a. Contract changes are more likely to occur on a single fixed price contract than on a cost plus a fee contract. b. The delivery method that an owner chooses should be in response to the amount and type of risk that an owner sees in a project. c. In lump sum contracts, it is allowed to change in the quantity of work performed within a limit of 25%. d. In the admeasurement contracts, the item description, quantity, unit of measure, unit cost and the total cost in the B.O.Q should be cleared. e. The owner has the ability to know the contractor profit in the unit price contracts. f. The direct costs are the summation of the cost of the labor, equipment, materials, and subcontractors. g. Overheads include the cost of items which cannot be directly charged to a specific work element. h. Loading of rates may be risky to both the contractor and the owner. i. Contract type has not effect on the project deadline.You are the Director of Contracts at the Ministry of Energy. The contract for South Coast Drilling for Oil will be advertised in 3 months. Drilling will be During the Christmas season. One of the Oil and Gas Companies sent a hamper of expensive goodies personally addressed to you at the office. What actions might you want to take?
- 4. Fixed-price contracts, where the contractor bids a fixed price to complete a system development, may be used to move project risk from client to contractor. If anything goes wrong, the contractor has to pay. Suggest how the use of such contracts may increase the likelihood that product risks will arise.(Subject: Insurance and risk management) You are a supervisor at CBC Insurance Company, the leading insurance company in the town. During the school holidays, your company has been be visited by grade 12 learners from Town High School. One of the learners that aspires to be insurance broker asks the following questions and vou have to answer him. a) Difference between wagering agreement, contingent contract and insurance contract b) Explain four important insurance terminologies and cite examples CF ensured his household goods against flood. Due to heavy rains this year, the central region experienced flooding and the house for CF being in the central region was also affected. CF submitted a claim at CBC but his claim was rejected. You manager has just informed you to send an email to CF informing him that his claim was rejected. Upon receiving the email and before coming to your office for formal inquiry, CF has phoned you to give him the possibilities as to why his claim was…Bill Lewis, manager of the Thomas Electronics Division, called a meeting with his controller, Brindon Peterson, and his marketing manager, Patty Fritz. The following is a transcript of the conversation that took place during the meeting: Bill: Brindon, the variable costing system that you developed has proved to be a big plus for our division. Our success in winning bids has increased, and as a result our revenues have increased by 25%. However, if we intend to meet this year’s profit targets, we are going to need something extra—am I right, Patty? Patty: Absolutely. While we have been able to win more bids, we still are losing too many, particularly to our major competitor, Kilborn Electronics. If we knew more about their bidding strategy, we could be more successful at competing with them. Brindon: Would knowing their variable costs help? Patty: Certainly. It would give me their minimum price. With that knowledge, I’m sure that we could find a way to beat them on several jobs,…