Jumpstart: Construction Management Ch 3 with comprehensive
Questions and Answers
What is the first step in finding the work?✔️✔️Determine who is preparing to build new projects
and when they will be ready to start
Intelligence Gathering✔️✔️Scoping out new work and finding out design starts and capital
improvement campaigns
Who is the one that is usually tasked with finding the work?✔️✔️Senior Estimators, Senior
managers and business development personnel
Major goal of construction firms?✔️✔️Be able to negotiate rather than just compete
Public Projects✔️✔️Funded by public taxpayers and certain regulations must be followed
Open Bid✔️✔️a competitive bidding requirement for all public projects. It is advertised publicly
and allows any qualified contractor to submit a bid on the project
Bid Bond✔️✔️the bond means if lower contract can not preform, the surety covers the difference
in the amounts
Performance Bond✔️✔️if the contractor can not perform the work as promised, the surety steps in
Payment Bond✔️✔️fails to pay sub contractors and suppliers, surety steps in
Prequalification✔️✔️the process in which an owner, based upon minimum financial, management,
and other qualitative data, determines whether a construction firm is fundamentally qualified to
compete for a certain project or class of projects
Questions and Answers
What is the first step in finding the work?✔️✔️Determine who is preparing to build new projects
and when they will be ready to start
Intelligence Gathering✔️✔️Scoping out new work and finding out design starts and capital
improvement campaigns
Who is the one that is usually tasked with finding the work?✔️✔️Senior Estimators, Senior
managers and business development personnel
Major goal of construction firms?✔️✔️Be able to negotiate rather than just compete
Public Projects✔️✔️Funded by public taxpayers and certain regulations must be followed
Open Bid✔️✔️a competitive bidding requirement for all public projects. It is advertised publicly
and allows any qualified contractor to submit a bid on the project
Bid Bond✔️✔️the bond means if lower contract can not preform, the surety covers the difference
in the amounts
Performance Bond✔️✔️if the contractor can not perform the work as promised, the surety steps in
Payment Bond✔️✔️fails to pay sub contractors and suppliers, surety steps in
Prequalification✔️✔️the process in which an owner, based upon minimum financial, management,
and other qualitative data, determines whether a construction firm is fundamentally qualified to
compete for a certain project or class of projects
