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CMGT Exam 1 Questions and Correct
Answers/ Latest Update / Already Graded
What are two types of owners
Ans: Public and Private. One uses public money one uses
private
What do Developer Owner's want
Ans: maximize return on investment, quick turn around
What do operator owners want
Ans: Manimize operating costs, at the expense of construciton
cost.
What is lump syum contract
Ans: Most common, total cost to total amont of work
Integrated Project Delivery
Ans: Risk and reward shared, creates transperancy between
parties
All rights reserved © 2025/ 2026 |
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What is unit price contract
Ans: Based upon quantities of items in the project and their
unit price.
Cost plus a fixed fee
Ans: Owners agrees to pay the cost of the work, pus
Cost plus a percentage Fee
Ans: Owners agrees to pay cost of work plus percentage of
total cost
Cost-plus with a guaranteed maximum price
Ans: A cost-plus contract that has a ceiling price on the amount
the owner will pay for the completed project.
What/who are the Project's Stakeholders
Ans: People with contractual or legal obligations, and people
with no form contractual agreements but can have strong
interest and influences to whats going on with project.
All rights reserved © 2025/ 2026 |
CMGT Exam 1 Questions and Correct
Answers/ Latest Update / Already Graded
What are two types of owners
Ans: Public and Private. One uses public money one uses
private
What do Developer Owner's want
Ans: maximize return on investment, quick turn around
What do operator owners want
Ans: Manimize operating costs, at the expense of construciton
cost.
What is lump syum contract
Ans: Most common, total cost to total amont of work
Integrated Project Delivery
Ans: Risk and reward shared, creates transperancy between
parties
All rights reserved © 2025/ 2026 |
, Page |2
What is unit price contract
Ans: Based upon quantities of items in the project and their
unit price.
Cost plus a fixed fee
Ans: Owners agrees to pay the cost of the work, pus
Cost plus a percentage Fee
Ans: Owners agrees to pay cost of work plus percentage of
total cost
Cost-plus with a guaranteed maximum price
Ans: A cost-plus contract that has a ceiling price on the amount
the owner will pay for the completed project.
What/who are the Project's Stakeholders
Ans: People with contractual or legal obligations, and people
with no form contractual agreements but can have strong
interest and influences to whats going on with project.
All rights reserved © 2025/ 2026 |
