CFM 415 FINAL STUDY GUIDE
Cost Plus Contract - Answer -Contractor is paid for all of the allowed expenses to a set
limit, plus any additional payment to allow for a profit. (BEST type of contract in the
contractor's point of view). All Risk is on the owner
Guaranteed Max Price Contract - Answer -Contractor is compensated for the actual
costs incurred on the project, plus a fixed fee that is subject to a ceiling price. Owner
and contractor share risk, it is important to include a change order risk in the contract
Design - Bid - Build - Answer -Most traditional contract, The Owner contracts with
separate entities for the design (architect) and the construction (contractor) for a project.
Remember the triangle of hate. (ALL risk is on the contractor)
Design - Build - Answer -This method is usually cheaper for the owner, design of
building and construction are produced by the same company. Owner's don't go for this
method because they can't see the bottom dollar, they
like to know at the beginning how much they will be spending.
CM at Risk (CMAR) - Answer -This type of contract almost always improves the quality
of a project. CM is required to deliver project within a guaranteed max price which is
based on the construction documents and the specs.
CM works with the owners best interest in mind -- acting as the main point of
communication.
NOTE: Low bidders are often dismissed (looking for good quality only).
Integrated Project Design (IPD) - Answer -Utopian Style Contract. Everyone shares the
risk. No litigation, everyone is on the same team -- same job site trailer.
Public/Private Partnership - Answer -Public will contract with a construction company to
build something. The contractor will pay for it initially, and the public owner will pay it off
over time, like a mortgage.
What should meeting minutes include? - Answer -Attendees, Date/Time, Submittals,
RFI statuses, a good summary of what happened in a meeting (in a narrative, "story"
format)
What is the most important meeting? - Answer -Pre-Construction
What happens in a Descoping meeting? - Answer -Find inclusins/exclusions, make
sure that the bid matches the specs, look for "orphans", and it is acceptable to negotiate
over the bid, HOWEVER it is unethical to Bid Shop.
, CSI Specification - Answer -Construction Specifications Institute
What CSI Divisions should we memorize in this class? - Answer -Divisions 1-10, 21,
22, 23, 26, & 31
CSI Division 1 - Answer -General Requirements
CSI Division 2 - Answer -Existing Condistions
CSI Division 3 - Answer -Concrete
CSI Division 4 - Answer -Masonry
CSI Division 5 - Answer -Metals
CSI Division 6 - Answer -Wood, Plastic, Compositions
CSI Division 7 - Answer -Thermal & Moisture Protection
CSI Division 8 - Answer -Openings
CSI Division 9 - Answer -Finishes
CSI Division 10 - Answer -Specialties
CSI Division 21 - Answer -Fire Suppression
CSI Division 22 - Answer -Plumbing
CSI Division 23 - Answer -HVAC
CSI Division 26 - Answer -Electrical
CSI Division 31 - Answer -Earthwork
Number of Old/Current CSI Divisions - Answer -16/50
CSI Tech Specs are Divisions... - Answer -2-50
Definition of Project - Answer -"A unique one-time activity with tasks & a fixed duration"
NOTE: projects are temporary.
EXAMPLE: even track houses have a unique location with a fixed time therefore making
them a project.
Cost Plus Contract - Answer -Contractor is paid for all of the allowed expenses to a set
limit, plus any additional payment to allow for a profit. (BEST type of contract in the
contractor's point of view). All Risk is on the owner
Guaranteed Max Price Contract - Answer -Contractor is compensated for the actual
costs incurred on the project, plus a fixed fee that is subject to a ceiling price. Owner
and contractor share risk, it is important to include a change order risk in the contract
Design - Bid - Build - Answer -Most traditional contract, The Owner contracts with
separate entities for the design (architect) and the construction (contractor) for a project.
Remember the triangle of hate. (ALL risk is on the contractor)
Design - Build - Answer -This method is usually cheaper for the owner, design of
building and construction are produced by the same company. Owner's don't go for this
method because they can't see the bottom dollar, they
like to know at the beginning how much they will be spending.
CM at Risk (CMAR) - Answer -This type of contract almost always improves the quality
of a project. CM is required to deliver project within a guaranteed max price which is
based on the construction documents and the specs.
CM works with the owners best interest in mind -- acting as the main point of
communication.
NOTE: Low bidders are often dismissed (looking for good quality only).
Integrated Project Design (IPD) - Answer -Utopian Style Contract. Everyone shares the
risk. No litigation, everyone is on the same team -- same job site trailer.
Public/Private Partnership - Answer -Public will contract with a construction company to
build something. The contractor will pay for it initially, and the public owner will pay it off
over time, like a mortgage.
What should meeting minutes include? - Answer -Attendees, Date/Time, Submittals,
RFI statuses, a good summary of what happened in a meeting (in a narrative, "story"
format)
What is the most important meeting? - Answer -Pre-Construction
What happens in a Descoping meeting? - Answer -Find inclusins/exclusions, make
sure that the bid matches the specs, look for "orphans", and it is acceptable to negotiate
over the bid, HOWEVER it is unethical to Bid Shop.
, CSI Specification - Answer -Construction Specifications Institute
What CSI Divisions should we memorize in this class? - Answer -Divisions 1-10, 21,
22, 23, 26, & 31
CSI Division 1 - Answer -General Requirements
CSI Division 2 - Answer -Existing Condistions
CSI Division 3 - Answer -Concrete
CSI Division 4 - Answer -Masonry
CSI Division 5 - Answer -Metals
CSI Division 6 - Answer -Wood, Plastic, Compositions
CSI Division 7 - Answer -Thermal & Moisture Protection
CSI Division 8 - Answer -Openings
CSI Division 9 - Answer -Finishes
CSI Division 10 - Answer -Specialties
CSI Division 21 - Answer -Fire Suppression
CSI Division 22 - Answer -Plumbing
CSI Division 23 - Answer -HVAC
CSI Division 26 - Answer -Electrical
CSI Division 31 - Answer -Earthwork
Number of Old/Current CSI Divisions - Answer -16/50
CSI Tech Specs are Divisions... - Answer -2-50
Definition of Project - Answer -"A unique one-time activity with tasks & a fixed duration"
NOTE: projects are temporary.
EXAMPLE: even track houses have a unique location with a fixed time therefore making
them a project.
