Construction Management 3014 Virginia Tech Exam 1 Already Passed

Construction Management 3014 Virginia Tech Exam 1 Already Passed construction industry vs. manufacturing manufacturing produces products and then sells. construction starts with a customer need and the product is built to fill the need. sectors of construction industry (4) infrastructure, commercial, residential, industrial main players in construction project (3) owner, designer, constructor stages of construction lifecycle 1)need 2)programming 3)schematic design 4)detailed design 5)construction documents 6)bid 7)construction 8)operation & maintenance 9)decommission design bid build/DBB/traditional designer sought through qualifications based selection. after design is completed, bids from constructors are sought-"lowest responsive and responsible bidder" DBB cons low quality from constructors and material suppliers, sometimes constructors use change-orders to drive up cost after receiving the low bid two-step procurement (variant of DBB) pool of pre-qualified contractors, bid accepted from pool, award to lowest bidder two step procurement pros/cons pro: pre qualification is step up from DBB con: still low qual b/c low bid award design build (DB) designer and builder under 1 contract. usually cost plus w/ GMP. savings below GMP shared w/ owner. constructor is lead over designer DB pros no disagreements b/w designer and builder design build operate (DBO) constructor is part (or whole) owner for some period of time& operates facility during that time to recuperate cap invstmnt. owner pays contractor to operate the structure. design build operate maintain (DBOM) contractor operates and maintains the facility for a period of time after construction is complete. owner pays contractor to operate and maintain the structure. construction manager at risk (CMAR) CM works w/ designer @ design phase, CM acts as general contractor @ construction phase. owner obtains proposals from select group of CM. CM prepares final cost estimates and submits GMP. unused funds returned to owner or split w/ CM. CMAR pros/cons pros: expedites process without hurting quality construction knowledge during design phase reduces cost overrun & schedule creep cons: CM at risk of paying all overruns can diminish role of designer construction management agency CM joins project as consultant to provide input construction management agency pros construction expertise without having awarded a contract yet Integrated project delivery (IPD) owner, contractor, designer under 1 contract. IPD pros risk and success is shared by all 3 public private partnerships/PPP/3P funded by private sources, recovers all costs over life of the asset. like DBO but with the addition that financing is provided from private roles of contractor select the right jobs to bid for, prep