ARE 5.0 Project Management exam with answers
Project Management - ....🔰VERIFIED ANSWERS.... ✔✔Includes project
planning, scheduling, monitoring, coordinating and directing, updating
documentation, closing out the job, and following up with clients.
Partnering - ....🔰VERIFIED ANSWERS.... ✔✔Various stakeholders in a
project (such as the architect, owner, contractor and vendors) all participate in
the decision-making process.
Bar Chart - ....🔰VERIFIED ANSWERS.... ✔✔Method commonly used for
scheduling design and construction projects. Tasks are listed in chronological
order on vertical access and time period is listed on horizontal axis. (Aka Gantt
Chart)
Dependency - ....🔰VERIFIED ANSWERS.... ✔✔The relationship between a
task that must be completed before another can start.
Critical Path Method (CPM) - ....🔰VERIFIED ANSWERS.... ✔✔Common
scheduling tool that graphically depicts all the tasks needed to complete a
project, the sequence in which tasks must occur, and each task's duration.
Float - ....🔰VERIFIED ANSWERS.... ✔✔The maximum length of time a
noncritical task can be delayed or extended before it causes a delay.
,Work Plan - ....🔰VERIFIED ANSWERS.... ✔✔A detailed project schedule,
breaking the project down into its component tasks and assigning staff
members and other resources to each task. (Aka Fee projection)
Pro Forma - ....🔰VERIFIED ANSWERS.... ✔✔Statement listing the expected
income that the project will generate and the expected costs to build the
project.
Value Engineering - ....🔰VERIFIED ANSWERS.... ✔✔Reviewing individual
systems and materials to see if the same function can be accomplished in a less
expensive way.
Building Cost - ....🔰VERIFIED ANSWERS.... ✔✔The money needed to
construct the building, including structure, exterior cladding, finishes, and
electrical and mechanical systems, as well as the contractor's overhead and
profit.
Site Development Costs - ....🔰VERIFIED ANSWERS.... ✔✔Cost of parking,
drives, fences, landscaping, exterior lighting, and irrigation systems.
Furniture, Fixtures, and Equipment (FF&E) - ....🔰VERIFIED ANSWERS....
✔✔Costs of movable equipment, furnishings, accessories, and window
coverings.
Professional Services - ....🔰VERIFIED ANSWERS.... ✔✔Architectural and
engineering fees as well as costs for services such as topographic surveys, soil
tests, special consultants, appraisals, and legal consultation.
, Financing - ....🔰VERIFIED ANSWERS.... ✔✔Includes the long-term interest
paid on permanent financing as well as the immediate costs of loan origination
fees, construction loan interest, and other administrative costs.
Debt Service - ....🔰VERIFIED ANSWERS.... ✔✔The cost to pay off the
construction loan for a project and is generally considered an ongoing cost over
many years, not part of the original cost of the project.
Top-Down Approach - ....🔰VERIFIED ANSWERS.... ✔✔An approach for
estimating fees where the PM begins by estimating the total fee needed to
complete the project using a combination of rules of thumb and historical data.
Bottom-Up Approach - ....🔰VERIFIED ANSWERS.... ✔✔An approach for
estimating fees where the PM begins by breaking the project down into
individual tasks and estimating how much time will be needed to complete
each one.
Total Working Fee - ....🔰VERIFIED ANSWERS.... ✔✔The fee available to pay
people to do the job after subtracting fees for proffit, consultants and other
expenses.
Project Monitoring Chart - ....🔰VERIFIED ANSWERS.... ✔✔Used to monitor
employees' time sheets weekly in order to compare the actual hours expended
to the budgeted time and take corrective action if the actual time exceeds the
budgeted time.
Communication - ....🔰VERIFIED ANSWERS.... ✔✔The most important
aspect of project management that includes 4 basic kinds known as work
assignments, instructions, reward and punishment and social interaction.
Project Management - ....🔰VERIFIED ANSWERS.... ✔✔Includes project
planning, scheduling, monitoring, coordinating and directing, updating
documentation, closing out the job, and following up with clients.
Partnering - ....🔰VERIFIED ANSWERS.... ✔✔Various stakeholders in a
project (such as the architect, owner, contractor and vendors) all participate in
the decision-making process.
Bar Chart - ....🔰VERIFIED ANSWERS.... ✔✔Method commonly used for
scheduling design and construction projects. Tasks are listed in chronological
order on vertical access and time period is listed on horizontal axis. (Aka Gantt
Chart)
Dependency - ....🔰VERIFIED ANSWERS.... ✔✔The relationship between a
task that must be completed before another can start.
Critical Path Method (CPM) - ....🔰VERIFIED ANSWERS.... ✔✔Common
scheduling tool that graphically depicts all the tasks needed to complete a
project, the sequence in which tasks must occur, and each task's duration.
Float - ....🔰VERIFIED ANSWERS.... ✔✔The maximum length of time a
noncritical task can be delayed or extended before it causes a delay.
,Work Plan - ....🔰VERIFIED ANSWERS.... ✔✔A detailed project schedule,
breaking the project down into its component tasks and assigning staff
members and other resources to each task. (Aka Fee projection)
Pro Forma - ....🔰VERIFIED ANSWERS.... ✔✔Statement listing the expected
income that the project will generate and the expected costs to build the
project.
Value Engineering - ....🔰VERIFIED ANSWERS.... ✔✔Reviewing individual
systems and materials to see if the same function can be accomplished in a less
expensive way.
Building Cost - ....🔰VERIFIED ANSWERS.... ✔✔The money needed to
construct the building, including structure, exterior cladding, finishes, and
electrical and mechanical systems, as well as the contractor's overhead and
profit.
Site Development Costs - ....🔰VERIFIED ANSWERS.... ✔✔Cost of parking,
drives, fences, landscaping, exterior lighting, and irrigation systems.
Furniture, Fixtures, and Equipment (FF&E) - ....🔰VERIFIED ANSWERS....
✔✔Costs of movable equipment, furnishings, accessories, and window
coverings.
Professional Services - ....🔰VERIFIED ANSWERS.... ✔✔Architectural and
engineering fees as well as costs for services such as topographic surveys, soil
tests, special consultants, appraisals, and legal consultation.
, Financing - ....🔰VERIFIED ANSWERS.... ✔✔Includes the long-term interest
paid on permanent financing as well as the immediate costs of loan origination
fees, construction loan interest, and other administrative costs.
Debt Service - ....🔰VERIFIED ANSWERS.... ✔✔The cost to pay off the
construction loan for a project and is generally considered an ongoing cost over
many years, not part of the original cost of the project.
Top-Down Approach - ....🔰VERIFIED ANSWERS.... ✔✔An approach for
estimating fees where the PM begins by estimating the total fee needed to
complete the project using a combination of rules of thumb and historical data.
Bottom-Up Approach - ....🔰VERIFIED ANSWERS.... ✔✔An approach for
estimating fees where the PM begins by breaking the project down into
individual tasks and estimating how much time will be needed to complete
each one.
Total Working Fee - ....🔰VERIFIED ANSWERS.... ✔✔The fee available to pay
people to do the job after subtracting fees for proffit, consultants and other
expenses.
Project Monitoring Chart - ....🔰VERIFIED ANSWERS.... ✔✔Used to monitor
employees' time sheets weekly in order to compare the actual hours expended
to the budgeted time and take corrective action if the actual time exceeds the
budgeted time.
Communication - ....🔰VERIFIED ANSWERS.... ✔✔The most important
aspect of project management that includes 4 basic kinds known as work
assignments, instructions, reward and punishment and social interaction.
