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

A GMP sets a ceiling on costs the owner pays, with the contractor absorbing overruns above it.

Question 2

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

Accepted Answer

Planning and design phase

Answer

Early planning and design decisions have the greatest impact on cost at the lowest change expense.

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

Crashing shortens the critical path by adding resources, typically increasing cost.

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

An RFI seeks clarification of ambiguous or conflicting design documents.

Question 5

Value engineering on a construction project aims to:

Accepted Answer

Achieve required functions at the lowest lifecycle cost without sacrificing quality

Answer

Value engineering optimizes function versus cost to deliver required performance economically.

Florida General Contractor Practice Test