When Deciding on Schedules, the Construction Manager Takes into Account

question 56

Multiple Choice

When deciding on schedules, the construction manager takes into account probabilities related to delays in materials or the potential for bad weather that could impact progress. The manager is accounting for

• A)uncertainty.
• B)incomplete information.
• C)risk.
• D)ambiguity.
• E)cognitive limitation.

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Definitions:

Federal Reserve

The central banking system of the United States, responsible for regulating the country's money supply and interest rates.

Lender of Last Resort

An institution, usually a country's central bank, that offers loans to banks or other eligible institutions that are experiencing financial difficulty or are considered highly risky or near collapse.

Board of Governors

The leading body of a central banking system that oversees policy and administration.

Money Supply

The entire amount of finances available in an economy, covering all forms of cash, coins, and the funds in checking and savings accounts, at a precise moment.