CM 4221 MIDTERM
ASSESSMENT QUESTIONS AND
COMPLETE SOLUTIONS GRADED
A+
Your Exam Plug
,How does Economy affect construction? - Answer: -Strong economy → new construction
-Weak economy or recession → renovation and remodeling
What years were the great recession? - Answer: 2007-2011
What caused the Great Recession? - Answer: -Banks issued adjustable-rate mortgages (ARM) to
subprime borrowers this made obtaining a loan relatively easy.
-People started buying houses they couldn't afford and homes inflated beyond true value.
-Adjustable rate loans and lower home values = people no longer able to pay mortgages
What are the Construction Project Firms? - Answer: -Owners (Private, Government)
- Architects (Design, Landscape)
- Engineers (Civil, Structural, Mechanical)
- Builders (Construction Managers, GC's)
- Trades people (Subcontractors)
- Fabricators/Manufacturers
- Material suppliers
What is the role of the Owner? - Answer: - Determines the need
- Funds the project
- Uses the product (or sells it)
What are the different types of Owners? - Answer: - All levels of government
- Private organizations
- Individual citizens
- Combinations thereof
What are the two types of Ownerships? - Answer: Public, Private
, What are the differences with Public and Private Projects? - Answer: Public projects:
- Federal, state, county, municipal, and other jurisdictions
- Rigid protocol for project development process
- Competitive bidding usually required (fairness)
- Mostly engineering construction projects (infrastructure)
Private projects:
- Owned by private entity
- Architect then engineering
What is the Designer's (A/E's) role? - Answer: - To depict the Owner's vision
- To make the Owner's concept buildable
- To ensure quality and the safety of final product
- To serve as the Owner's agent during construction
What is the Constructor's role? - Answer: - To build the design as specified
• Self-perform or subcontract the work
- Determine means and methods
- Evaluate and manage risks
- Manage safety program
- Manage and lead subcontractors, suppliers, insurance providers, etc.
What are the different types of Constructors? - Answer: -General building contractors
- Heavy civil contractors
- Construction management firms
- Design-builders
What is the Subcontractor/Trade Partners' role? - Answer: - To perform specialty tasks
- To ensure quality of different facets of the project
ASSESSMENT QUESTIONS AND
COMPLETE SOLUTIONS GRADED
A+
Your Exam Plug
,How does Economy affect construction? - Answer: -Strong economy → new construction
-Weak economy or recession → renovation and remodeling
What years were the great recession? - Answer: 2007-2011
What caused the Great Recession? - Answer: -Banks issued adjustable-rate mortgages (ARM) to
subprime borrowers this made obtaining a loan relatively easy.
-People started buying houses they couldn't afford and homes inflated beyond true value.
-Adjustable rate loans and lower home values = people no longer able to pay mortgages
What are the Construction Project Firms? - Answer: -Owners (Private, Government)
- Architects (Design, Landscape)
- Engineers (Civil, Structural, Mechanical)
- Builders (Construction Managers, GC's)
- Trades people (Subcontractors)
- Fabricators/Manufacturers
- Material suppliers
What is the role of the Owner? - Answer: - Determines the need
- Funds the project
- Uses the product (or sells it)
What are the different types of Owners? - Answer: - All levels of government
- Private organizations
- Individual citizens
- Combinations thereof
What are the two types of Ownerships? - Answer: Public, Private
, What are the differences with Public and Private Projects? - Answer: Public projects:
- Federal, state, county, municipal, and other jurisdictions
- Rigid protocol for project development process
- Competitive bidding usually required (fairness)
- Mostly engineering construction projects (infrastructure)
Private projects:
- Owned by private entity
- Architect then engineering
What is the Designer's (A/E's) role? - Answer: - To depict the Owner's vision
- To make the Owner's concept buildable
- To ensure quality and the safety of final product
- To serve as the Owner's agent during construction
What is the Constructor's role? - Answer: - To build the design as specified
• Self-perform or subcontract the work
- Determine means and methods
- Evaluate and manage risks
- Manage safety program
- Manage and lead subcontractors, suppliers, insurance providers, etc.
What are the different types of Constructors? - Answer: -General building contractors
- Heavy civil contractors
- Construction management firms
- Design-builders
What is the Subcontractor/Trade Partners' role? - Answer: - To perform specialty tasks
- To ensure quality of different facets of the project
