In responding to a Request for Proposal (RFP), XYZ Contractor is preparing a lump sum price...

 

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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: 15m³/d • Productivity rate in rock: 7m³/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 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: 15m³/d • Productivity rate in rock: 7m³/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

Answer rating: 100% (QA)

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 ... View the full answer