Question

3. In a pure construction management approach the construction manager usually guarantees the overall price of the project. True False 4. In a guaranteed maximum price (GMP) contract, costs above the GMP are covered by the contractor. True False 5. A unit-price contract provides an owner with price competition while still allowing for an increase or decrease in actual versus estimated quantities. True False 6. When assessing the risks applicable to a project, one must also look to the owner organization and the way decision making occurs. True False 7. 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 e. All of the above 8. Historically, a "master builder" was hired to build a project. Today, the same approach would be most like which delivery method? a. Design/Bid/Build with a lump sum bid b. Design/Bid/Build with a GMP c. Construction project management d. Design/Build e. Unit-price contract 9. 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 e. None of the above 10. In which of the following project approaches is owner oversight most difficult to apply?

3. In a pure construction management approach the construction manager usually guarantees the
overall price of the project.
True
False
4. In a guaranteed maximum price (GMP) contract, costs above the GMP are covered by the
contractor.
True
False
5. A unit-price contract provides an owner with price competition while still allowing for an
increase or decrease in actual versus estimated quantities.
True
False
6. When assessing the risks applicable to a project, one must also look to the owner organization
and the way decision making occurs.
True
False
7. 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
e.
All of the above
8. Historically, a "master builder" was hired to build a project. Today, the same approach would
be most like which delivery method?
a.
Design/Bid/Build with a lump sum bid
b.
Design/Bid/Build with a GMP
c.
Construction project management
d.
Design/Build
e.
Unit-price contract
9. 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
e.
None of the above
10. In which of the following project approaches is owner oversight most difficult to apply?

Added by John M.

Question

Please give Ace some feedback