Final Exam Review Questions
(BCN3027) 184 COMPLETE SOLUTIONS.
Final Exam Review Questions
(BCN3027) 184 COMPLETE SOLUTIONS.
Order the following typical project development phases from earliest to latest. - ANSWER 1. Idea/Need
2. Feasibility Study/Financing
3. Design
4. Project (contracting services) Procurement
5. Construction
Which of these members is responsible for performing specialized construction/installation work? -
ANSWER Sub/Trade Contractors
Which of these members is responsible for translating the project requirements and needs into a
communicable document form? - ANSWER Designer
Which of these members is responsible for providing means, methods, & work sequences to build
project? - ANSWER Contractor
Which of these members is responsible for initiating the project & controlling the entire process? -
ANSWER Owner
Which of these members is responsible for providing material, systems, and equipment? - ANSWER
Suppliers and Vendors
True or False - The owner is ultimately responsible for the outcome of a project? - ANSWER True
Owners of each construction project need to select a procurement method & payment scheme for their
projects to ensure successful completion. Which of the following statements is related to Project
Procurement Methods? & Which are related to Project Payment Schemes? Are used to help project
owners find qualified GC/CM - ANSWER Project Procurement Method
,Final Exam Review Questions
(BCN3027) 184 COMPLETE SOLUTIONS.
Owners of each construction project need to select a procurement method & payment scheme for their
projects to ensure successful completion. Which of the following statements is related to Project
Procurement Methods? & Which are related to Project Payment Schemes? Are used by project owners
to compensate qualified GC/CM for their services. - ANSWER Project Payment Schemes
Owners of each construction project need to select a procurement method & payment scheme for their
projects to ensure successful completion. Which of the following statements is related to Project
Procurement Methods? & Which are related to Project Payment Schemes? Includes: Bidding, No-Bid
contracts, & Negotiated Bids - ANSWER Project Procurement Method
Owners of each construction project need to select a procurement method & payment scheme for their
projects to ensure successful completion. Which of the following statements is related to Project
Procurement Methods? & Which are related to Project Payment Schemes? Includes Lump Sum, Unit
price, and cost plus - ANSWER Project Payment Scheme
True or False: Project procurement are methods by which an owner can acquire services of interested
and qualified construction managers & general contractors. - ANSWER True
True or False: The following statements are true for Competitive Bidding: The successful bidder signs a
contract with the Owner & becomes the GC or CM. - ANSWER True
True or False: The following statements are true for Competitive Bidding: Could be open to all interested
contractors or limited to a select group of bidders. - ANSWER True
True or False: The following statements are true for Competitive Bidding: The owner evaluated all bid
proposals based on a preset criteria, mostly price, to select the successful bidder. - ANSWER True
True or False: The following statements are true for Competitive Bidding: Typically is based on a set of
bid documents prepared by the architect. - ANSWER True
True or False: Private Owner negotiations are based only on formal bids (price) submitted by interested
contractors. - ANSWER True
, Final Exam Review Questions
(BCN3027) 184 COMPLETE SOLUTIONS.
What are the following reasons for public owners to award no-bid contracts to contractors? - ANSWER If
it is an emergency, to work with qualified contractors the owner prefers to work with, and if the project
is of sensitive nature.
How are the monthly progress payments calculated under lump sum contracts? - ANSWER Using
schedule of values and percent completed of work.
Who bears the construction cost risk under a cost plus contract? - ANSWER The owner
How are the monthly progress payment calculated for unit price contracts? - ANSWER Based on actual
quantities installed and unit prices agreed.
What the factors the owner should take into consideration when deciding on the design of the
construction contract? - ANSWER Dispute resolution, Scope definition, and Risk sharing
Select the potentially best project procurement method & payment scheme for each of the following
scenarios:
A common project with well-defined scope of work. - ANSWER Design Bid Build with Lump Sum
Select the potentially best project procurement method & payment scheme for each of the following
scenarios:
A project with known type of work but ill-defined quantities. - ANSWER Unit Price Contract
Select the potentially best project procurement method & payment scheme for each of the following
scenarios:
(BCN3027) 184 COMPLETE SOLUTIONS.
Final Exam Review Questions
(BCN3027) 184 COMPLETE SOLUTIONS.
Order the following typical project development phases from earliest to latest. - ANSWER 1. Idea/Need
2. Feasibility Study/Financing
3. Design
4. Project (contracting services) Procurement
5. Construction
Which of these members is responsible for performing specialized construction/installation work? -
ANSWER Sub/Trade Contractors
Which of these members is responsible for translating the project requirements and needs into a
communicable document form? - ANSWER Designer
Which of these members is responsible for providing means, methods, & work sequences to build
project? - ANSWER Contractor
Which of these members is responsible for initiating the project & controlling the entire process? -
ANSWER Owner
Which of these members is responsible for providing material, systems, and equipment? - ANSWER
Suppliers and Vendors
True or False - The owner is ultimately responsible for the outcome of a project? - ANSWER True
Owners of each construction project need to select a procurement method & payment scheme for their
projects to ensure successful completion. Which of the following statements is related to Project
Procurement Methods? & Which are related to Project Payment Schemes? Are used to help project
owners find qualified GC/CM - ANSWER Project Procurement Method
,Final Exam Review Questions
(BCN3027) 184 COMPLETE SOLUTIONS.
Owners of each construction project need to select a procurement method & payment scheme for their
projects to ensure successful completion. Which of the following statements is related to Project
Procurement Methods? & Which are related to Project Payment Schemes? Are used by project owners
to compensate qualified GC/CM for their services. - ANSWER Project Payment Schemes
Owners of each construction project need to select a procurement method & payment scheme for their
projects to ensure successful completion. Which of the following statements is related to Project
Procurement Methods? & Which are related to Project Payment Schemes? Includes: Bidding, No-Bid
contracts, & Negotiated Bids - ANSWER Project Procurement Method
Owners of each construction project need to select a procurement method & payment scheme for their
projects to ensure successful completion. Which of the following statements is related to Project
Procurement Methods? & Which are related to Project Payment Schemes? Includes Lump Sum, Unit
price, and cost plus - ANSWER Project Payment Scheme
True or False: Project procurement are methods by which an owner can acquire services of interested
and qualified construction managers & general contractors. - ANSWER True
True or False: The following statements are true for Competitive Bidding: The successful bidder signs a
contract with the Owner & becomes the GC or CM. - ANSWER True
True or False: The following statements are true for Competitive Bidding: Could be open to all interested
contractors or limited to a select group of bidders. - ANSWER True
True or False: The following statements are true for Competitive Bidding: The owner evaluated all bid
proposals based on a preset criteria, mostly price, to select the successful bidder. - ANSWER True
True or False: The following statements are true for Competitive Bidding: Typically is based on a set of
bid documents prepared by the architect. - ANSWER True
True or False: Private Owner negotiations are based only on formal bids (price) submitted by interested
contractors. - ANSWER True
, Final Exam Review Questions
(BCN3027) 184 COMPLETE SOLUTIONS.
What are the following reasons for public owners to award no-bid contracts to contractors? - ANSWER If
it is an emergency, to work with qualified contractors the owner prefers to work with, and if the project
is of sensitive nature.
How are the monthly progress payments calculated under lump sum contracts? - ANSWER Using
schedule of values and percent completed of work.
Who bears the construction cost risk under a cost plus contract? - ANSWER The owner
How are the monthly progress payment calculated for unit price contracts? - ANSWER Based on actual
quantities installed and unit prices agreed.
What the factors the owner should take into consideration when deciding on the design of the
construction contract? - ANSWER Dispute resolution, Scope definition, and Risk sharing
Select the potentially best project procurement method & payment scheme for each of the following
scenarios:
A common project with well-defined scope of work. - ANSWER Design Bid Build with Lump Sum
Select the potentially best project procurement method & payment scheme for each of the following
scenarios:
A project with known type of work but ill-defined quantities. - ANSWER Unit Price Contract
Select the potentially best project procurement method & payment scheme for each of the following
scenarios:
