Intro to Construction Final Exam

Extra Credit: Endorsements can be dangerous and inconvenient. Which brand was placed in a bad spot for Ricky Bobby?

Fig Newton

What are typical reasons we build a schedule? Choose all that apply. a) Determine if the project can be complete in a required timeline b) Evaluate available resources (people, equipment, material) c) Identify "Long Lead" items d) Understand how fast money will be spent on a project

a,b,c,d

What are typical sources of funding for a construction project? Choose all that apply. a) Bonds b) Government budgets (federal, state, local) c) Construction loans d) Donors

a,b,c,d

What are techniques to manage risk? (Choose all that apply) a) Insure against the risk b) Eliminate the risk c) Reduce the risk d) Transfer the risk e) Accept the risk

a,b,c,d,e

In addition to adding work activities, what else must be built in to ensure an accurate schedule? a) Anticipated weather disruption b) Long Lead times for material and equipment c) Anticipated changes made by the owner, just in case d) Holidays

a,b,d

Which of the following are common payment methods? Choose all that apply. a) Unit Price b) Lump Sum c) Low Bid d) Cost Plus

a,b,d

If you are a general contractor preparing for a bid and don't receive any subcontractor bids for a specific scope, what are the suggested ways to handle this situation? Choose all that apply. a) Contract several subcontractors and send out bid packages again, if you have time b) Exclude that scope from your bid with the owner c) Perform an estimate and "plug" a number to ensure you have a budget for that scope. d) Withdraw your bid since you don't have anyone to perform the work

a,c

Given the partially completed Earthwork Volume Sheet below, what is the FINAL MASS ORDINATE (running total)? Submit your answer in the following format: XXBCY, -XXXBCY. For example: 200BCY or -712BCY Station End A Cut End A Fill Vol Cut Vol Fill Strip Cut Strip Fill Total Cut 0+00 100SF 10SF - - - - - 1+00 70SF 200SF 6BCY 12CCY 1+50 200SF 150SF 14BCY 16CCY

-279BCY

Extra Credit - Happy needs to toughen up to prepare for the next round of hockey tryouts. How much time is left? Fill in the blank: _______ Days

364

If we had to be on the first chair lift at 8:30am (first lift!), what TIME did we need to set the alarm to be exactly on time? Submit your answer in this format: #:##am (for example, 7:45am) 1 Wake Up 5 min 2 Put on ski clothes 7 min 1 3 Warm up minivan 10 min 2 4 I check the ski report 2 min 2 5 Wife packs movies for kids 3 min 2 6 Load van w/ skis 8 min 4 7 Wife makes breakfast & lunch 10min 5 8 We eat breakfast 10 min 6,7 9 Drive to Mary Jane 100 min 3,8 10 Unload van, get on chair lift, send it 20 mins 9

5:55am

Given 16% per year compounded monthly, what is the effective annual interest rate? a) 15.5% b) 16.3% c) 17.2% d) 16.0%

c

Extra Credit: You are building a BMX track at Folsom Field since football season was canceled. The site for the new track requires a significant amount of soil (fill). Your job is to move soil from your stock pile at McGuckin to the site at Folsom Field. You can find only one bucket loader, but can rent as many dump trucks as you need. How many dump trucks will you rent to ensure maximum productivity? Bucket Loader Capability: 100BCY / hr Dump Trucks: ? Empty Speed: 30 mph (no speeding!) Loaded Speed: 12 mph Capacity: 10 BCY Dump Time: 5 mins Distance from McGuckin to Folsom Field: 5280 ft ( 1mi )

3

A residential homebuilder signed a contract to build a $2.2M custom home near Vail. The home had many intricate features such as Bob Marley sculptures, black lights in most rooms and build-in bean bag chairs. Halfway through the project, the builder refused to finish the project after discovering the owner was selling crack our of his existing Boulder home. TRUE or FALSE? The contract to build this custom home is NOT legally enforceable because of the "Legal Subject Matter" requirement.

False

True or False? A SUBCONTRACTOR cannot be liable for liquidated damages because the prime contract is between the General Contractor and the Owner.

False

True or False? Based on this lesson, it is always recommended to use Low Bid procurement to ensure the best project outcome.

False

True or False? Even if all criteria to form an enforceable contract are met, a verbal agreement is never legally binding.

False

True or False? Given the complexity of our projects, it is critical to use 3D modeling software to create every Site Logistics Plans.

False

True or False? If a subcontractor receives a comment on a submittal which differs from drawings and specifications, the comment overrides the drawings and specs.

False

True or False? If i delay an activity with zero total float, the project will always be delayed and there is no way to finish on time.

False

True or False? If you delay an activity which has Total Float, it will never delay the next activity.

False

True or False? In CM/GC (Construction Manager at Risk), the CM/GC accepts the project DESIGN risk.

False

True or False? In Design-Build, the owner always hires a single entity with both design and construction capabilities.

False

True or False? In a typical Federal contract, you can submit your bid late as long as it's within two hours of the bid date/time.

False

True or False? In the United States, the ONLY states which DO NOT require employers to carry Worker's Compensation Insurance are Texas, Wyoming and Florida.

False

True or False? Integrated Project Delivery is very popular in public projects due to the clear demonstration of competition btw parties.

False

True or False? Regardless of the type of estimate, it's imperative that accuracy is considered down to the dollars and cents.

False

True or False? Reliable Quantity Takeoffs (QTO) take very little time because the industry solely utilizes automation and software to perform the task.

False

True or False? The only opportunity for a contractor to earn margin (profit) in a Cost Plus Fee contract is through a fee (fixed or percentage).

False

True or False? A General Contractor is not allowed to do "Self-Perform" work. Typical contracts state they must use subcontractors for all scopes.

False

True or False? If you delay an activity on the critical path, the project is guaranteed to be delayed. (Answer based on reality, not the textbook definition of critical path)

False

True or False? Organizing and filing project information is largely left to the individual as long as they know where to find what they need.

False

Extra Credit - Quality inspections are important. Tommy did a fine job checking the specs on the end line for the ________ girder. Fill in the blank.

Rotary

True or False? If a structural engineer had an error or omission in his/her drawings. Professional Liability Insurance will cover any loss/damages.

True

True or False? If an employee gets injured on the job, Worker's Compensation Insurance typically pays for medical expenses and 75% of lost wages.

True

True or False? In Best Value procurement, the team is typically selected based on their price proposal AND Technical proposal.

True

True or False? In a PUBLICLY funded Design-Bid-Build project, the general contractor must be selected based on LOW PRICE if they are responsible and responsive.

True

True or False? In a fill scenario, you must ADD "stripping" to your "Required Fill" calculation.

True

True or False? It is typical to select a design team based on qualifications (Qualifications-Based Selection) instead of low price.

True

True or False? Its possible to set a LUMP SUM in a Design-Build contract. The scope might change, but the price can stay fixed.

True

True or False? Lenders deem projects high-risk during construction because they're not useful until complete.

True

True or False? Project Administration refers to all the tasks required to orchestrate and manage the project.

True

Given 16% per year compounded monthly, what is the effective monthly interest rate? a) 0.95% / Month b) 3.15% / Month c) 1.33% / Month d) 1.00% / Month

c

A general contractor verbally tells a ceiling sub to order 5% extra ceiling tile in case of damage. The sub agrees to order the ceiling tiles even though they were not in the original scope. No additional compensation was discussed at the time. This is an example of what type of contract? Choose the BEST ANSWER a) Implied b) Express c) Bilateral d) Unilateral e) Performance

a

After the last football game btw CU and USC, a drywall subcontractor received a lot of business repairing punched holes in walls around Boulder. They must repair 800 SF. You look in the RS Means manual for estimating and find: Descripion Unit Labor-Hrs Drywall repair, tape & finish S.F. 0.21 Given a crew of two people, what is their daily output (assume 8-hr days)? a) 76.2 SF/Day b) 21 Days c) 38.1 SF/Day d) 10.5 Days

a

Based on the Safety Plans lesson - when you form a jobsite safety committee, who should be in attendance? Choose the best answer. a) Craft Workers b) Upper-Level Leadership c) Interns d) Superintendents

a

Every month you evaluate tasks within your concrete scope. The table below is available to you. Did this task finish ahead of schedule? Choose all that apply. Task UOM EstUnits ActUnits EstProd ActProd EstHr ActHr EstLabor ActLabor Place Slab CY 2400 2600 1140 1160 $57,200 $61,200 a) It is not possible to evaluate the schedule based on this info b) No, because the additional cubic yards of concrete exceeded the estimate c) No, because the actual hours exceeded the estimated hours d) Yes, because the actual productivity is higher than the estimated productivity

a

GIVEN: 4% per year compounded monthly. A = $400, n= 8 quarters, F = ? DETERMINE: Future Value a) $3,314 b) $3,264 c) $1,649 d) $3,200

a

The president of a growing engineering firm wishes to give each of her 50 employees an annual holiday bonus. How much is needed to invest monthly for a year at 12% nominal interest rate, compounded monthly, so that each employee will receive a $1,000 bonus at the end of the year? a) $3,942 b) $4,167 c) $4,731 d) $79

a

What major infrastructure project was considered one of the greatest public works project in American history and an excellent example of Master Planning? (hint - a failed convoy was the beginning of this project) a) The Eisenhower Interstate System b) The highways which run on either side of Manhattan, NY c) The Burlington Northern Railroad d) The Dutch Delta Works

a

Which delivery system is considered the most traditional and well-established? Choose the best answer. a) Design-Bid Build b) Design Build c) CM/GC d) Integrated Project Delivery

a

You are going to buy a new bull dozer for your weekend business. The cost is $300,000. The dozer has a useable life of 7yrs and will have a salvage value of $90,000. Using straight line depreciation, what is the depreciation in year FOUR? (Not the total depreciation) a) $30,000 b) $42,857 c) $12,857 d) $120,000

a

You are the GC and hire an excavation subcontractor. They are loading dump trucks right next to the site fence. A rock tumbles over the fence and injures a dude (not someone from the project) walking on the sidewalk. WHO directly PURCHASES this insurance? a) Subcontractor b) Injured Dude c) GC d) Owner

a

What are LIQUIDATED DAMAGES? Choose all that apply. a) A reasonable estimate of damages if an owner receives a project late b) A pre-determined amount of money charged to a contractor for late completion of the project c) The cost of damages from anything water0reolated (flood, broken pipe, etc.) d) a punishment for a contractor turning over a project late

a,b

What are reasons a contractor might intentionally UNBALANCE a unit price bid? Choose all that apply. a) To take advantage of a mistake in the owner's estimated quantities b) To Front Load their payments earlier in the project c) To Back Load their payments later in the project d) Because there is no opportunity for margin in a balanced bid.

a,b

Which activities fall under the category of Quality Assurance? Choose all that apply. a) Flooding a roof with water to see if it leaks b) Performing a sample test of 10% of the fire alarm devices c) Checking every concrete delivery ticket to ensure the mix matches specifications d) Spot checking a subcontractor's inspection checklists

a,b

What are typical activities performed during Project Planning? Choose all that apply. a) Investigate existing conditions. b) Define the project scope c) Define project goals d) Define a prioritized list of projects over the next 10-20 yrs

a,b,c

Which of the following documents are considered to be part of the contract documents? (Choose all that apply) a) Anything incorporated by reference b) Special Conditions (aka Supplementary Terms and Conditions) c) Drawings and Specifications d) Request for Information (RFI)

a,b,c

What are the typical ways to divide the cost estimate btw estimators? Choose all that apply. a) CSI Division b) Masterformat c) Uniformat d) Assemblies/Systems

a,b,c,d

Given 16% per year compounded monthly, what is the effective quarterly interest rate? a) 5.40% / Quarter b) 4.60% / Quarter c) 4.05% / Quarter d) 4.00% / Quarter

c

What are typical ways for a contractor to make margin (profit) in a Lump Sum contract? Choose all that apply. a) Spend less money on material compared to the budget b) Spend all of the contingency c) Reduce general conditions spending compared to budget d) Work longer hours (every hour is reimbursed dollar-for-dollar)

a,c

What are common requirements in a Request for Proposal which are not included in the typical Low Bid process? Choose all that apply. a) Interviews b) Submitting a price c) Submitting an executing plan and Means & Methods d) Submitting a preliminary design

a,c,d

When choosing a contractor in the Low Bid process, what are the traditional criteria for selection? Choose all that apply. a) Lowest Price b) Strongest Qualifications c) Responsive Bid d) Contractor proves they are "Responsible"

a,c,d

What are MAJOR FACTORS to determine an employer's worker's compensation rates? Choose all that apply. a) Their trade b) Whether they have a safety training program or not c) The cost of the project d) Previous injuries (Experience Modifier Rating)

a,d

If a subcontractor walks off the job (defaults), which type of bond will cover the cost of finding a new subcontractor? Choose the best answer/ a) Bid Bond b) Performance Bond c) Bail Bond d) Payment Bond

b

If you have a final mass Ordinate of 2,000 BCY, how would you describe this earthwork project? Choose the best answer. a) Borrow Project b) Waste Project c) Balance Project d) Scraper Project

b

In one of our current events, we discussed a tall building that was tilting and sinking. What happened in that current event? a) An emergency order was given and the building has been vacant since b) Engineers formulated a plan to jack it up c) The building was deemed within tolerances and engineers will simply monitor the situation d) The Leaning Tower of Pisa became an international tourist destination

b

We discussed a federal project where the wrong bolts were used to mount steel plates to a concrete wall. What was root cause of the issue? a) The bolts were under-sized and needed to be replaced b) The bolts were manufactured in a country not approved for the project. c) The improper bolts resulted in a collapse and structural failure d) The bolts never went through the submittal process

b

What is it called when a general contractor makes a subcontractor follow the same contractual guidelines from the owner? a) Being a jerk b) Flow Down c) Clause Forwarding d) Partnering e) Push Through

b

Which of the following is intended to create a budget and it's not an offer to enter a contract? Choose the best answer. a) Proposal b) Estimate c) Bid d) Quote

b

You are going to buy a new bull dozer for your weekend business. The cost is $300,000. The dozer has a useable life of 7 years and will have a salvage value of $90,000. Using the Modified Accelerated Cost Recovery System (MARCS), what is the book value of the dozer at the end of year 6? a) $18,690 b) $40,200 c) $26,700 d) $260,000

b

You are going to buy a new bull dozer for your weekend business. The cost is $300,000. The dozer has a useable life of 7 yrs and will have a salvage value of $90,000. Using straight line depreciation, if you decide to sell the dozer at the end of yr 7, what is the book value of the dozer? a) $120,000 b) $90,000 c) $210,000 d) $0

b

You performed a square foot esitmate in RS Means and applied the location factor for Boston, giving you a project cost of $10M. If the location factor for Boston was 1.18, what is the NATIONAL AVERAGE COST for your building type? a) $11.8M b) $8.5M c) $10M d) $1.8M

b

What are the main objectives of a Request for Information? Choose all that apply. a) To incorporate changes that have a cost impact b) To clarify conflicting or missing information c) To propose a new solution d) To document changes that have a schedule impact

b,c

Which of the following delivery systems allow for Fast Tracking? Choose all that apply. a) Design-Bid-Build b) Design-Build c) CM/GC or CMAR d) Integrated Project Delivery

b,c,d

Which of the following delivery systems allow for fast tracking? Choose all that apply. a) Design-Bid-Build b) Design Build c) CM/GC or CMAR d) Multiple Prime

b,c,d

Which of the following are DIRECT COSTS? (also called, Cost of Work). Choose all that apply. a) General Contractor's Porta-Potty (temporary toilet) b) Cost of delivering rebar c) The Project Manager's pickup truck d) Wages for the pipefitters

b,d

For a Contractor to win a low-bid job, they must be both responsible and responsive. What does it mean to be RESPONSIVE? Choose all that apply. a) Proven to have adequate financial capability b) Submitted their bid before the deadline c) Owns an iPhone and can be reached at all hours of the night d) Submitted their bid first e) Turned in all the required bid documents

b,e

A famous CU alumnus left all his money valued at $5M to the CEAE Department. He stipulated that the endowment was to last forever and the department's first withdrawal could be made 10yrs after the donation. If the endowment fund earns interest at 10% per yr (APY), How much money can be withdrawn every year, forever? a) $1.40M b) $825K c) $1.18M d) $500K

c

A general contractor is under contract to build a small office building estimated at $10M. Given the following payment system and scenario, how much MARGIN will the general contractor earn? - "$11M Lump Sum" Contract and Actual Costs to the GC were $10.5M" a) $0 b) -$1M c) +$500K d) -$500K e) +$1M

c

After performing a risk analysis, an owner determined that if an event happened, it would cost $2M ("Consequence" or "Severity"). The probability of the event happening was 5%. What is the EXPECTED VALUE which should be included in the owners contingency? a) $ 190,000 b) $ 1,000,000 c) $ 100,000 d) $ 1,900,000

c

Based on suggestions from this lesson, how much contingency would you apply to a conceptual estimate? Choose the best answer. a) 5% b) 10% c) 20% d) Contingency doesn't apply in conceptual estimates

c

Netflix just agreed to a $500M deal to acquire exclusive streaming rights to the TV shows "Seinfeld". The investment in Seinfeld could results in an average 500,000 subscribers each month for 6yrs (constant uniform series). Revenue is $9/month per subscription. If they deposited all of their subscription revenue into the a mutual duns each month earning 8% APR, how much would this mutual fund be worth at the end of 6yrs. a) $399.1M b) $324M c) $414.1M d) $87.0M

c

Regarding soil measure and volume, choose the correct relationship btw Bank Cubic Yards (BCY), Loose Cubic Yards (LCY) and Compacted Cubic Yards (CCY). a) BCY < LCY < CCY b) LCY < CCY < BCY c) CCY < BCY < LCY d) LCY < BCY < CCY

c

What are possible reasons why the actual cost was higher than the estimated cost in this table? Choose all that apply. Task UOM EstUnits ActUnits EstProd ActProd EstHr ActHr EstLabor ActLabor Install Carpet SY 24,000 24,450 10,140 10,000 $250,000 $275,000 a) The supplier of the carpet charged more than budgeted b) There was more carpet installed (more carpet had to be purchased) c) The crew worked overtime which was not in the original budget d) The crew cost was higher than estimated (using people on the crew w/ a higher wage than budgeted)

c

What is established to limit contractor's total reimbursement in Cost Plus Fee contracts? Choose the best answer a) Firm Fixed Price b) Target Budget Estimate c) Guaranteed Maximum Price d) Incentive Fee

c

What is the phrase used in the video textbook that summarizes the importance of accurate jobsite records? a) Common sense in the least common of all senses b) There is no "I" in TEAM c) If it wasnt in writing, it didnt happen d) Whoever is careless with the truth in small matters cannot be trusted with important matters.

c

A Master Plan is a comprehensive, long-term vision which typically addresses which topics? Choose all that apply. a) Specific project teams (architects, contractors, suppliers, etc.) b) Detailed cost estimates for all projects c) Land use d) Growth

c,d

A skid steer breaks down on site. An employee happens to own a skid steer and brings it to the jobsite the next day. The employer is aware that the personally-owned skid steer is on site and in use. There is no discussion of paying for the use of the skid steer. Does the employee have a case to get paid for the use of the skid steer? Choose ALL that apply. a) NO - there was no discussion of payment (consideration), which is one of the criteria to form a legally enforceable contract. b) NO - there was no offer or acceptance, which are two of the criteria to form a legally enforceable contract. c) YES - this is an example of unjust enrichment where you can't get something for nothing. d) YES - this is an implied contract based on the employer being aware of the skid steer in operation.

c,d

Given 16% per year compounded monthly, what does this rate represent? (Choose all that apply) a) The effective annual rate b) The Annual Percentage Yield (APY) c) The nominal annual rate d) The Annual Percentage Rate (APR)

c,d

A developer asks you how much it will cost her to build a 100,000SF office building. What should you say? a) $2.2M -$2.6M b) $220M-$260M c) "I was spacing out during class, probably a billion dollars." d) $22M-$26M

d

A general contractor is under contract to build a small office building estimated at $10M. Given the following payment system and scenario, how much MARGIN will the general contractor earn? - "Cost Plus 5% Fee with a $10M GMP" Contract and Actual Costs to the GC were $10M? a) -$500K b) +$1M c) +$500k d) $0 e) -$1M

d

GIVEN: 16% per year compounded monthly. P = ?, A = $400, n = 4yrs DETERMINE: Present Value. a) $1,600 b) $1,165 c) $1,119 d) $1,092

d

Netflix just agreed to a $500M deal to acquire exclusive streaming rights to the TV show "Seinfeld." Instead of doing the Seinfeld deal, Netflix could have invested the $500M today in a mutual fund earning 8% per year (APR). How much would their mutual fund be worth at the end of 6 yrs? a) $520.3M b) $793.4M c) $4.4M d) $806.8M

d

Station (STA) 2+50 is equivalent to what? a) 2.5 ft b) 52 ft c) 100 ft d) 250 ft

d

What is the typical "trigger" to move a project from Master Planning to Project Planning? Choose the best answer. a) Design team availability b) Construction team available c) The Geotech report is finished d) Funding

d

Which Project Delivery System involves the Owner, Design Team and Key Contractors all signing one muli-party agreement to design and build the project? Choose the best answer. a) Design-Bid-Build b) Design-Build c) CM/GC or CMAR d) Integrated Project Delivery

d

You are planning to buy a $75,000 Tesla because you dislike the freedom of driving long distances. Your lender is offering a 10yr loan at 8% per yr compounded monthly (APR) and no money down. What will the MONTHLY payments be? a) $833 b) $625 c) $11,177 d) $910

d

You want to invest in a bond using some of your excess spendin' money. You find a bond with an $8,000 face value, 4% quarterly coupon rate, and 10yr maturity time. If your MARR is 6% per yr compounded quarterly, what is the most you should pay for the bond? a) $4,000 b) $8,000 c) $9,196 d) $6,803

d

You are the GC and hire an excavation subcontractor. They are loading dump trucks right next to the site fence. A rock tumbles over the fence and injures a dude (not someone from the project) walking on the sidewalk. Which TYPE OF INSURANCE will cover the losses/damages from this event? a) Professional Liability b) Injury from Rocks (IFR) Insurance c) Worker's Compensation Insurance d) Builder's Risk Insurance e) General Liability Insurance

e

You are working on a Navy facility. Site-specific work hours and base security restrictions can be found in which essential contract document? a) General Conditions (Standard Terms and Conditions) b) Submittals Manual c) The Agreement d) Drawings and Specifications e) Supplementary Terms and Conditions (Special Conditions)

e