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CNST 2341 mod 1 || A Verified A+ Pass.
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Five bases common to classifying contracts. correct answers 1. Method of Payment 2. Arrangement of Project Delivery 3. Method of selection and award 4. Number of Primes 5. Legal Description what are the 3 Methods of Payment in the construction correct answers 1. Lump Sum 2. Unit Price 3. ...

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  • August 4, 2024
  • 3
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • five bases common to classifying contracts

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  • CNST 2341
  • CNST 2341

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CNST 2341 mod 1 || A Verified A+ Pass.
Five bases common to classifying contracts. correct answers 1. Method of Payment
2. Arrangement of Project Delivery
3. Method of selection and award
4. Number of Primes
5. Legal Description

what are the 3 Methods of Payment in the construction correct answers 1. Lump Sum
2. Unit Price
3. Cost Plus

Why does an owner know which method of payment to choose? correct answers By the best way
he feel basis for paying the contractor for its effort.

Lumps Sum Contract correct answers let us know that the contractor's compensation is a more
higher amount and agreed on for the work specified on the contract

Unit Price correct answers Let us know that the contractor is paid according to an agreed upon
unit price list for each item included in the scope of work.

How contracts are described and classified? correct answers 1. Method of payment
2. Arrangement of project delivery
3. Method of selection and award
4. Number of primes
5. Legal description

How do you determine the proper type of contract for a certain project? correct answers To
determine the proper type of a contract for a specific project one should consider the
characteristics of the project and the owner risk attitude

-Design/Bid/Build correct answers informs us that the owner decided to complete the project
design before it sends it to bidders and the winning bidder will build the project.

Design/Build correct answers informs us that the owner decided to award the project to a
contractor that is in charge of designing and simultaneously building the project

Turn Key correct answers informs us that the owner decided to not be involved in the project
design, construction, or interim financing.

Construction Management correct answers informs us that the owner decided to hire a third party
to oversee the project design and/or construction for a fee.`

There are two methods of selecting the contractor. correct answers Competitive
Negotiation

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