CMGT FINAL: 3 Exam Questions And Answers

they are funded by taxpayers dollars - ANS Open bidding is required public projects because _____? prequalification - ANS What is the tool used to reduce the number of bidders on a public project and to increase the quality of the contractor pool? labor and materials payment bond - ANS Which type of bond guarantees that the payment for a contractor's labor and materials used on the project will be made? all the above: posted electronically on construction project lead services, newspapers, trade magazine - ANS Where are the notice documents that inform the public of upcoming projects found? design-bid-build and low bid selection - ANS Identify the correct pairing of the most common procurement method and selection criteria? notice to proceed - ANS What is the name of the official document that notifies the contractor to start construction? award the project based on high total points for qualitative and price components - ANS Which best describes the weighted criteria evaluation process? all of the above: location of the project, size of the job, who the architect/ owner is - ANS Which are the factors that are commonly considered before deciding to bid on a construction job? all of the above: bid bond, certificates of insurance, subcontractor lists - ANS If missing, which one of the below items would deem a bid non responsive? shortlisting - ANS Narrowing the field of offers through the selection of the most qualified proposers on the basis of qualifications is known as: