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CMGT 210 Quiz 1
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Exam of 2 pages for the course CFP5_M3_CH3 at CFP5_M3_CH3 (CMGT 210 Quiz 1)
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CMGT 210 Quiz 1Which of the following Project Delivery Methods typically uses a form of COST-PLUS
contract? - correct answer-Integrated project Delivery
The terminology "Sufficiency of Construction Documents" and means that the
Construction Documents (CD's) has sufficient information to be able to complete the
work of improvements. - correct answer-TRUE
From an Owner's perspective, which of the following is a disadvantage of a
Cost-Plus Type Contract? - correct answer-Cost could exceed budget
All types of contracts are similar in administrative language and responsibilities,
except they are fundamentally different in two way.
1) How the contractor quotes the work
2) how the risk is allocated to each party to the contract - correct answer-TRUE
From an Owners perspective, which of the following is a disadvantage of a
Guaranteed Maximum Cost Type Contract - correct answer-Quality and Scope may
be compromised to maintain GMP
Fast tracking allows a project to be completed earlier than is possible in a
conventional sequential approach by designing it as a series of work packages -
correct answer-TRUE
Based on the type of contract used on a specific project, contractors have more risk
or less risk. Which of the following type of contracts has the LEAST amount of
contractor risk ? - correct answer-Cost Plus Percentage fee
There are 2 main "types" of Project Owners - correct answer-TRUE-Private & Public
Which of the following project delivery methods crate and equal level of responsibility
for the sufficiency of the CD's - correct answer-Integrated Project Delivery
Which of the following project delivery methods include the GC providing Pre-Con
and Construction services - correct answer-CM@RISK
From an owners perspective, which of the following is a disadvantage of a
LUMP-SUM type contract - correct answer-
When using COST-Plus type contract, Contractors are compensated for overhead
and profit in which of the following ways. - correct answer-
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