Stipulated sum Study guides, Class notes & Summaries

CMIT Exam (200 multiple choice) Questions with Verified Answers A CM's role and responsibilities are governed solely by the Owner/CM Agreement. True False - CORRECT ANSWER True There are two basic forms of CM, agency and at-risk. Each form provides for the basic services of construction management practice. However, there are some key differences. Which of the following do not apply to both CM forms? A) Both forms provide advice to the owner on constructibility, budget and the schedule. ...

Stipulated Sum correct answers The General contract of the A101 requires that the sum of the project be submitted as a whole dollar amount in the contract. "Lump sum" - same meaning Substantial Performance correct answers The owner "in essence" got what they bargained for owner is able to occupy the building for its intended use Strict Compliance correct answers Literal compliance with the contract language means, methods, and requirements specified in the contract agreement...

TEST BANK FOR TIETZ FUNDAMENTALS OF CLINICAL CHEMISTRY AND MOLECULAR DIAGNOSTICS 7TH EDITION BY BURTIS Table of Contents PREFACE ............................................................................................................................................... 2 Chapter 01: Clinical Chemistry, Molecular Diagnostics, and Laboratory Medicine ...................... 2 Chapter 02: Selection and Analytical Evaluation of Methods With Statistical Techniques .......... 5 Chapter 03: Clinical...

443-health management stipulated sum sole prime general contract - correct answer-work is clearly defined in the contract documents and is done for a fixed, agreed upon amount of money. consequential damages - correct answer-indirect losses that result from wrongdoing by one party joinder - correct answer-The uniting of parties or claims in a single lawsuit binding arbitration - correct answer-process whereby a neutral party hears arguments from two opposing sides and makes a decision tha...

ARE 5.0 PjM Questions and Answers with Verified Solutions Partnering A method of managing a project where various stakeholders in the project all participate in the decision making process What should a PM consider when selecting its internal team? The type and complexity of the project, the size of the project, staff availability, experience levels, billing rates, personalities What are the 2 methods of scheduling a project? Bar char or Gantt chart & critical path Most common m...

Web-based contracting correct answers provides an environment supporting scheduling, controlling, regulating, analyzing, and auditing the procurement and delivery of materials and services for construction in an electronic format. construction managers supervise contracts with: correct answers Subcontractors Specialty firms Labor unions Equipment vendors Materials vendors Major Construction Contract Types correct answers Competitively Bid Contracts Stipulated Sum Contracts Unit Price...

Functional obsolescence - Answer- Refers to the loss in desirability of the style, layout or function of an element of a property over time Sales comparison - Answer- best indicator of value for existing properties highest and best use - Answer- the legal use for property that gives the greatest return in money and/or amenities external obsolescence - Answer- the loss in value of a property caused by factors outside the property itself principle of contribution - Answer- suggests the...

Partnering : A method of managing a project where various stakeholders in the project all participate in the decision making process What should a PM consider when selecting its internal team? : The type and complexity of the project, the size of the project, staff availability, experience levels, billing rates, personalities What are the 2 methods of scheduling a project? : Bar char or Gantt chart & critical path Most common methods of compensation : Stipulated sum, cost plus fee, pe...

Entire Contract Provision - ANSWER found at the beginning of the policy, saying that the policy cannot refer to any outside documents as being part of the contract and prohibiting the insurer from making any changes to the policy after it has been issued. (can only make good changes not bad) Insuring Clause - ANSWER sets forth the company's basic promise to pay benefits upon the insured's death. Free-Look Provision - ANSWER gives policyowners the right to return the policy for a full pre...

Design-Build Entity Configurations - ACCURATE ANSWER-Contractor Led • A/E Led • Integrated Firm • Developer Led • Joint Venture The Controlling Entity is: - ACCURATE ANSWERwhoever holds the Prime Contract RFP - ACCURATE ANSWER-Technical Proposal -drawings, written specifications, renderings, models -Price Proposal -Stipulated Sum proposed based on Technical Proposal Standard Form Design-Build Contracts - ACCURATE ANSWER-AIA • EJCDC • AGC • DBIA What ...