Award & Contracts Questions and Answers
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Cost Plus Fee Contract Format - contractor reimbursed for actual cost plus an agreed
upon percentage
GMP (Guaranteed Maximum Price) Contract Format - Combines Cost-Plus & Lump-Sum,
contractor reimbursed for actual cost plus a fee only up to a certain amount.
Unit Price Contract Format - cost per piece
Target Price Contract Format - established cost/benchmark determined jointly by project
team.
Trust, Flexibility Successful Design Build requires _____ & _______ between participants
,Hammurabi Singular responsibility for both design & construction was first codified by
____
Bridging Documents Owner provided items such as 20% design or more and provides
prescriptive specs at RFP.
Spearin Doctrine Owner is responsible for implied warranties in the sufficiency of the
specifications.
Performance Requirements ____ ____ should identify end results.
Design Build Single point of responsibility for both design & construction is an attribute of
what delivery method?
Substantiation The process of checking milestones along the way for completeness.
Prescriptive Owner requiring specific products or methods be instituted by DB team in
order to achieve desired performance.
, False T/F Detailed estimating is the Building systems approach to estimating
False T/F feasibility estimate is cost model and establishes budget for project
True T/F key element of quality assurance is keeping communication lines open between
owner and DB
True T/F in Design/cost relationship of DB, the constructor establishes design parameters
for architect
False T/F trust is most important thing for DB
Schematic estimating DB estimating sequence where 15%-20% of design is completed
Trend logs Provides baseline budgets and schedules and list estimate trends