ARE 5.0 Project Management Questions and Answers | Latest Updated Graded A+

ARE 5.0 Project Management Questions and Answers | Latest Updated Graded A+ Project Management - Includes project planning, scheduling, monitoring, coordinating and directing, updating documentation, closing out the job, and following up with clients. Partnering - Various stakeholders in a project (such as the architect, owner, contractor and vendors) all participate in the decision-making process. Bar Chart - Method commonly used for scheduling design and construction projects. Tasks are listed in chronological order on vertical access and time period is listed on horizontal axis. (Aka Gantt Chart) Dependency - The relationship between a task that must be completed before another can start. Critical Path Method (CPM) - Common scheduling tool that graphically depicts all the tasks needed to complete a project, the sequence in which tasks must occur, and each task's duration. Float - The maximum length of time a noncritical task can be delayed or extended before it causes a delay. Work Plan - A detailed project schedule, breaking the project down into its component tasks and assigning staff members and other resources to each task. (Aka Fee projection) Pro Forma - Statement listing the expected income that the project will generate and the expected costs to build the project. Value Engineering - Reviewing individual systems and materials to see if the same function can be accomplished in a less expensive way. Building Cost - The money needed to construct the building, including structure, exterior cladding, finishes, and electrical and mechanical systems, as well as the contractor's overhead and profit. Site Development Costs - Cost of parking, drives, fences, landscaping, exterior lighting, and irrigation systems. Furniture, Fixtures, and Equipment (FF&E) - Costs of movable equipment, furnishings, accessories, and window coverings.