Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In responding to a Request for Proposal (RFP), XYZ Contractor is preparing a lump sum price proposal for digging an underground hole with specifications

image text in transcribed 

In responding to a Request for Proposal (RFP), XYZ Contractor is preparing a lump sum price proposal for digging an underground hole with specifications below. 10m x 10m x 5m - Concept Design No geotechnical data, assume 65% soil, 35% rock Productivity rate in soil: 15m/d Productivity rate in rock: 7m/d Excavator: $2500/d . Labor: $800/d Overhead including profit: $320/d Additional assumptions can be made, if needed. . . 10m . 5m Objectives: As part of their submission, XYZ Contractor should assess risks, uncertainties and required contingencies. You are working with XYZ Contractor and should support the team to: explain and develop the Risk Matrix (4 X 4) with three levels of risk scores, i.e., Low, Medium and High explain and develop the Consequence Table for 'cost', 'time' and work health and safety (WHS) impacts explain and develop the Likelihood Table explain and develop the escalation table 10m explain how these tools should be used effectively to identify, analyse and evaluate risks use the developed tools to assess top 10 risks, and assess required time and cost contingency

Step by Step Solution

3.41 Rating (160 Votes )

There are 3 Steps involved in it

Step: 1

To develop the required risk assessment tools and assess the top 10 risks lets go through each step Risk Matrix A Risk Matrix is a visual tool that helps assess the likelihood and consequence of risks ... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

IFRS 3rd edition

1118978080, 978-1119153726, 1119153727, 978-1119153702, 978-1118978085

More Books

Students also viewed these Accounting questions

Question

Assess debt features and their implications. (p. 413) AppendixLO1

Answered: 1 week ago