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Which of the following risk events would present the highest risk to the “schedule category” of risks.
A. Sustantial increase in the cost of purchased materials.
B. Delays in obtaining required approvals.
C. Contract disputes that generate back charges.
D. Deffral of the scheduled post implementation review meeting.
Thanks for the invite.
In large construction projects ( not just civil ) , I would say " delays in obtaining the required approvals " presents highest risks. Hence it is option B.
All risks are important to control. However, the highest risk is posed by option (A) substantial increase in cost of materials- because it is irreversible and would directly impact the project profitability or loss. Option (B) delays in obtaining approvals is a process which can be expedited with better communication skills, higher priority settings for documents, managing approvals with superior coordination, collaboration skills, more efficient use of various communication tools and re-defined channels of communication for approvals that are more effective and finally superior negotiation on conflict resolution between interfaces and different disciplines. Option (C) contract disputes which generates back charges - normally the maximum value of such contract dispute which generates back charges may be nominal in value and does not affect contract completion schedule, since it can be settled even after technical completion of the project considering that contracts are prepared by experts
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