Florida General Contractor Construction Project Management 4

Question 1

A guaranteed maximum price (GMP) contract protects the owner by:

Accepted Answer

Capping the total cost the owner will pay, with savings often shared

Answer

Fixing the contractor's profit at 50 percent

Answer

Eliminating the need for change orders

Answer

Removing all contractor liability

Question 2

The most effective time to influence project cost with the least expense is during the:

Accepted Answer

Planning and design phase

Answer

Final punch list phase

Answer

Warranty period

Answer

Closeout phase

Question 3

A crash schedule technique in project management involves:

Accepted Answer

Adding resources to critical activities to shorten duration, usually at added cost

Answer

Deleting activities from the schedule

Answer

Delaying all non-critical work

Answer

Reducing the project scope arbitrarily

Question 4

A request for information (RFI) is typically used by a contractor to:

Accepted Answer

Obtain clarification on drawings or specifications from the design team

Answer

Order additional materials from a supplier

Answer

Request final payment

Answer

Submit a safety incident report

Question 5

Value engineering on a construction project aims to:

Accepted Answer

Achieve required functions at the lowest lifecycle cost without sacrificing quality

Answer

Maximize the amount of change orders

Answer

Increase the contract sum for the contractor

Answer

Eliminate the warranty obligations

Question 6

A Gantt chart is most useful for:

Accepted Answer

Displaying activity durations and their timing along a calendar bar chart

Answer

Calculating soil bearing capacity

Answer

Determining electrical load

Answer

Tracking retainage percentages

Question 7

In earned value management, a Schedule Performance Index (SPI) greater than 1.0 means:

Accepted Answer

More work has been completed than planned, indicating ahead of schedule

Answer

The project is over budget

Answer

The project has stopped

Answer

Retainage must be increased