CMGT 360 FINAL EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS VERIFIED

CMGT 360 FINAL EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS VERIFIED Lump sum Most often used with the traditional delivery system this contract is where payment's based on the percentage of scope of work complete Cost plus fee This type of contract is used when the scope of work is not clearly defined. Owner pays for the cost of the work plus the contractor's fee Cost Plus Fee GMP this type of contract of contract is the same as the Cost Plus Fee contract but the contractor has a max ceiling price they can't exceed Unit Price this type of contract has the contractor provide unit costs to perform the scopes of work and the amount of work completed is tracked. Lump Sum Most risked contract for a contractor Cost Plus Fee Most risked contract for the owner Everybody Who is accountable for safety? Strategies to make Safety a priority 1. Discuss it regularly 2. Make it Personal 3. Implement Procedures Jobsite Orientation this meeting provides project specific safety communications to new personnel prior to stepping foot onsite. Job Hazard Analysis This is a process done at each jobsite where each trade plans out there work and identifies specific hazards associated with their tasks Weekly tailgate meetings Weekly these safety meetings involve each trade conducting meetings with their crews to review project specific safety hazards Jobsite safety audits These safety meetings consist of a walk-thru and inspections of the project site for any safety related deficiencies. This walk should be performed by every member on the project team Jobsite Safety Plan This plan for the jobsite is a safety plan created by the superintendent before the project starts that addresses typical safety topics Jobsite Safety Utilization Plan This safety plan is a graphic showing where safety related items are located onsite Schedule of Values This is a list of itemized costs for each project work scope that is used to track the amount billed for each work item against the budgeted costs for the work item Lump sum costs The costs are billed base on projected PERCENTAGE complete of a work item for the month Cost Plus Fee Costs The costs are based on ACTUAL costs incurred for the billing month Preliminary notice This is a notice required to be filed by a contractor to establish their right to file a Lien in the Event of Nonpayment. NOT REQUIRED Mechanic's Lien this is a security interest for contractors that perform work that they are unpaid for, requires payment to be processed Managing Project Costs 1. Prior to Project - Know the budget 2. During Construction - Manage the budget 3. After Construction - Closing out all job costs Managing Project Schedule 1. Prior to Construction - Develop good initial schedule - Identify long procurement items - Milestones? 2. During Construction - 3-week lookahead - Project Master states critical path activities and update schedule monthly 3. After Construction - Punch list items -Turnover Package GC & Subcontractor Foremen Who are the last planners? LPS differences the last planner system makes individuals responsible for putting the work in place and there is a more collaborative process to plan and control the project Pull Planning This process of the Last Planner system involves collaboration between the GC and subcontractor foreman to compile the construction schedule Weekly Work Plans this process of the Last Planner system involves weekly meetings with the last planners to revisit the project schedule and make needed adjustments Daily Huddles this process of the last planner system involves daily check-ins on progress of production