5-9

A general contractor is engaged in _________ when seeking quotes from sub contractors that he/she has no intention in hiring.

Bid shopping

Historically, a "master builder" was hired to build a project. Today, the same approach would be most like which delivery method?

Construction project management

The level of contingency applied to a project should as the project moves towards completion.

Decrease

In which of the following project approaches is owner oversight most difficult to apply?

Design/Build

True or False: As an estimate progresses from conceptual to detailed, it takes longer to prepare and becomes less accurate.

False

True or False: The Masterformat specification format, as compared to the Uniformat, better reflects the manner in which a project is built

False

The value of the quality to the owner as the design quality of a project increases.

Increases at a decreasing rate

What is a punch list?

Items that must be completed prior to contract completion

Long-lead items are materials or equipment typically ordered and bought by the _____ in advance of the contract award.

Owner

Assuming no contract changes, during which of the following project stages is the actual cost of construction most likely to be determined?

Procurement

Which of the following best defines learning curve?

Productivity increases as repetitions increase.

In which of the following are the four stages of design in the correct order?

Programming; schematic design; design development; contract documents

True or False: A unit-price contract provides an owner with price competition while still allowing for an increase or decrease in actual versus estimated quantities.

True

True or False: An index measures change with respect to an established baseline.

True

True or False: As a project moves through the design phase, decisions and details considered become more numerous, and of a smaller scale.

True

True or False: Ideally, projects should gradually build up the work force, have a strong production period, and then gradually decrease the work force to zero.

True

True or False: When assessing the risks applicable to a project, one must also look to the owner organization and the manner in which decision making occurs.

True

Which of the following types of estimates would a contractor most likely use to bid a project?

Unit price

The choice of which delivery method is correct is a factor of perceived risk. Which of the following is a source of project risk? a) Financial concerns b) Quality of the materials or workmanship c) When the project will be completed d) Quality of design

all of the above

The amount of profit a bidder includes is a factor of ______ 2)The particular client 3)Project duration 4)Level of expected competition 5)Extent of perceived risk

all of them

true or false: When adjusting an estimate for time and location, the adjustment for location must be made first.

false

Overhead burden is greatest on which of the following cost categories?

in house labor

A project is rushed into design without a total understanding of the owner's needs. As the project moves through the design, additional requirements are added, increasing the project budget. This is an example of: a) Project acceleration b) Fast tracking c) Scope creep d) Separated functions

none of the above