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35 Cards in this Set
- Front
- Back
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Is prequalification of bidders legal on public projects |
Yes |
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What governs between supplementary and general conditions |
Supplementary conditions |
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Is a surety bond like an insurance policy? |
No |
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A common time for the owner to review the preliminary design is when about ____% of the total design is complete |
40 |
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List the four major construction industry segments |
building, industrial, residential, heavy/highway |
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What is the percentage of the bid price incurred by the constructor for cost estimating |
0.25% |
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Provide changes or additions to the contract documents after they have been issued but before the bids are due |
Addendum |
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Cover stipulations, regarding how a contract is to be administered and the relationships between the parties involved that are the same for all contracts |
General conditions |
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Provide technical information that is best conveyed by graphic or pictorial representations |
Plans and drawings |
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Supplied by the owner and used by the contractor to submit its bid |
Proposal form |
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Present those aspects of the contractual relationships that are peculiar or unique to a given project |
supplementary conditions |
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Provide technical information that is best conveyed by verbal descriptions |
Technical specifications |
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Example of a project indirect cost |
Salary of the project manager |
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Index which tracks the cost of typical materials used in residential construction projects |
Input cost index |
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Index tracks the cost of completed homes over time and around the country |
Output cost index |
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Performance bonds are what percent of project costs |
0.5-3% |
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When a facility can be occupied for its intended use |
Beneficial occupancy |
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Change to the contract that is issued unilaterally by the owner |
Change order |
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Relates to determining how construction resources can best be applied |
Construction management |
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Methods or techniques used to place the materials and elements of construction at the job site |
Construction technology |
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Written notification from the owner to the constructor that the constructor has received the contract |
Notice to proceed |
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Deficiencies identified during the final inspection |
Punch List |
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Four categories of direct cost |
Labor, equipment, materials, subcontracts |
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Two types of industry |
Service and construction |
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Three parties in the surety contract |
Obligee (owner) , principal (constructor), surety |
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What 3 items are included in the contractor's "markup" |
profit, contingency, home/office overhead |
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What are the two primary purposes of the final owner's estimate |
Provides a basis against which the owner can compare contractor bids Lets owner know if the final design is within the owner's financial resources to construct |
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Three production systems and their production volumes |
Project (low), Batch system (medium), mass-production (high) |
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Which production system is most applicable to the construction industry |
Project |
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Claims for time extensions are typically for the 2 general reasons |
Weather problems, acts of the owner or its agents |
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Four methods of specifying construction products |
Proprietary, descriptive, Process |
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What do owners often require to guard against mechanics liens |
Payment bonds |
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Requires that on federal projects the contractor must provide surety bonds |
Miller act of 1935 |
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In a construction contract, what is the difference between a change and a cardinal change |
A cardinal change is no longer within the scope of the project and is therefore considered a new contract. A change is typically within the scope and only requires additional compensation for the contractor |
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Which type of cost+ contract actually encourages the contractor to increase construction cost |
Cost +% of cost |
