Answers
What are the primary ingredients of a contract? - ANS Mutual agreement, Capacity,
Consideration, Lawfulness
From an owners perspective a cost plus fee contract is the riskiest of all types of contracts. -
ANS True
One way to reduce owners risk is to have a cap on the contract of a project. This is an example
of which type of contract? - ANS Cost Plus with a GMP
According to Dykstra what issues impact the choice of contract? - ANS The project delivery
method, Risk allocation, The quality of design information
The key to mutual agreement is that all parties agree to exactly what is written in the contract
documents. - ANS True
The following is an example of which type of contract? A contractor bids a fixed unit price and
the completion of work is paid based on actual quantities. - ANS Unit Price
Contract documents include many components except which of the following? - ANS Change
Orders
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, Specifications complement drawings by answering several key information requirements. Select
all of the following applicable areas that specifications address. - ANS Submittals, Quality of
material and products and quality assurance, Special installation requirements
General conditions are standards that can be used on multiple projects and are provided with
the agreement. General conditions outline and specify how many Key provisions including
which of the following? - ANS Outline broad rights and responsibilities of the parties, Outline
terms for making changes to the work, Provide guidance for dealing with disputes or delays,
Specify the procedures for contractor payment
The agreement is one of the documents that make up a contract and is sometimes referred to
as the contract because it includes by reference all the other documents. - ANS Address of
the project and brief description of the work, List of documents referenced by the agreement,
Time for completion and contractor exclusions
GC's develop a rough schedule called a "big schedule" And as a part of preparing their bid. They
refine this as a "master construction schedule" with more detail after they are awarded the job.
- ANS True
There are many good reasons why scheduling is an important part of project management, as it
assists contractors in providing value in several ways except which of the following? -
ANS Drive subcontractor quality performance
Select all of the following types of schedules that are common in construction project
management. - ANS Bar charts, Network diagrams, Network bar charts
Select all of the following steps required to develop a master schedule. - ANS Identify work
activities, Sequence the work activities, Estimate activity durations
The method by which activities are organized is called the Contractor Work Structure (CWS). -
ANS False, it's called a Work Breakdown Structure
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