Florida General Contractor Construction Project Management 3

Question 1

A liquidated damages clause in a construction contract is intended to:

Accepted Answer

Set a predetermined daily amount owed by the contractor for late completion

Answer

Reward the owner for early payment

Answer

Cover the cost of liquidated assets

Answer

Pay bonuses to subcontractors

Question 2

The primary function of a project's contingency budget is to:

Accepted Answer

Cover unforeseen costs and unexpected conditions during construction

Answer

Pay the general contractor's overhead

Answer

Fund marketing for the completed building

Answer

Reimburse the owner's attorney fees

Question 3

Which delivery method places design and construction under a single contract with the owner?

Accepted Answer

Design-build

Answer

Design-bid-build

Answer

Construction management at-risk with separate designer

Answer

Multiple prime contracts

Question 4

A resource-leveled schedule is created primarily to:

Accepted Answer

Reduce peaks and valleys in resource demand over the project duration

Answer

Shorten the critical path regardless of cost

Answer

Eliminate all float from the schedule

Answer

Increase the number of activities

Question 5

In earned value management, a Cost Performance Index (CPI) less than 1.0 indicates:

Accepted Answer

The project is over budget for the work performed

Answer

The project is ahead of schedule

Answer

The project is under budget

Answer

The schedule float is increasing

Question 6

A pre-construction meeting is typically held to:

Accepted Answer

Review responsibilities, schedule, safety, and procedures before work begins

Answer

Close out the punch list

Answer

Release final retainage

Answer

Approve the certificate of occupancy

Question 7

The purpose of a lookahead schedule (e.g., three-week lookahead) is to:

Accepted Answer

Coordinate near-term activities and identify upcoming constraints

Answer

Replace the master CPM schedule permanently

Answer

Calculate final project profit

Answer

Document as-built conditions