Financial implications of decisions made by engineers


Question 1: Describe the coordination, monitoring and approval method essential when more than one company is included with the design of a project and how the design liability and financial implications of any errors are assessed.

Question 2: Chartered Engineers bear very heavy responsibility for the advice they give to the authorities and clients regarding the ethical, environmental and financial consequences of the projects they suggest. How are such matters assessed and how do you consider your training has prepared you for such responsibilities?

Question 3: Describe the issues included in advising a client on technical and financial matters, in response to a brief, in order to make sure client satisfaction and consultant profitability.

Question 4: Describe the contribution a project team has to whole life asset performance.

Question 5: Drawing on your experience describe the need for short, medium and long term asset management plans and how such plans may be prepared for extensive sewerage networks taking due account of environmental issues.

Question 6: Identify the possible causes of budget over runs due to late completion of construction projects and describe measures, which could be taken to minimize their reoccurrence on other projects.

Question 7: Describe the possible causes of budget over-runs and late completion for the construction of a new major plant and measures to minimize their recurrence.

Question 8: What might cause budget over-runs and late completion of construction projects and what measures must be taken to minimize their occurrence?

Question 9: As a project leader for a design consultant on a multi-million pound large span bridge project, describe how you would set up your team to cover all aspects of the day-to-day management of the project from tender stage to completion. How would you make sure a successful financial outcome for your company?

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Finance Basics: Financial implications of decisions made by engineers
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