Podcast
Questions and Answers
True or false:Contract administration only involves managing a contract from award to signing.
True or false:Contract administration only involves managing a contract from award to signing.
False (B)
True or false:Contract administration is a simple and easy task for project owners.
True or false:Contract administration is a simple and easy task for project owners.
False (B)
True or false:Contract administration only involves ensuring compliance by contractors and not the project owners themselves.
True or false:Contract administration only involves ensuring compliance by contractors and not the project owners themselves.
False (B)
True or false: Compliance with contract terms is not important in contract administration.
True or false: Compliance with contract terms is not important in contract administration.
True or false: Contract closeout can only occur when a contract is formally terminated.
True or false: Contract closeout can only occur when a contract is formally terminated.
True or false: Change orders claims, early payments or overpayment, and unsatisfactory performance can be prevented by implementing a structured contract administration program.
True or false: Change orders claims, early payments or overpayment, and unsatisfactory performance can be prevented by implementing a structured contract administration program.
True or false: Project owners do not have to worry about contract administration.
True or false: Project owners do not have to worry about contract administration.
True or false: Implementing a structured contract administration program can prevent change order claims, but not unsatisfactory performance.
True or false: Implementing a structured contract administration program can prevent change order claims, but not unsatisfactory performance.
True or false: Critical risks encountered during the performance period may be obscured by routine duties involving receipt and review of contractor submittals.
True or false: Critical risks encountered during the performance period may be obscured by routine duties involving receipt and review of contractor submittals.
True or false: The pre-contract phase involves understanding contractor requirements and creating a request for proposal.
True or false: The pre-contract phase involves understanding contractor requirements and creating a request for proposal.
True or false: Effective contract management is not essential for project success.
True or false: Effective contract management is not essential for project success.
True or false: Contract administration is an easy task for project owners, even under ideal conditions.
True or false: Contract administration is an easy task for project owners, even under ideal conditions.
Flashcards
Contract administration scope?
Contract administration scope?
Contract administration involves managing a contract from award through completion, not just to signing.
Contract admin difficulty?
Contract admin difficulty?
Contract administration requires diligence and expertise, so it is not a simple task.
Who must comply?
Who must comply?
Contract administration involves ensuring compliance by all parties, including the project owners.
Compliance importance?
Compliance importance?
Compliance with contract terms is essential for successful contract administration. Failure to comply can lead to disputes, delays, and increased costs.
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When does closeout occur?
When does closeout occur?
Contract closeout can occur when the work is substantially completed.
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Admin program value?
Admin program value?
A structured contract administration program helps prevent issues like change order claims, early or overpayments, and unsatisfactory performance.
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Owner's role?
Owner's role?
Project owners must actively engage in contract administration to protect their interests and ensure project success.
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Risk visibility?
Risk visibility?
Critical risks can be overshadowed by routine tasks if not actively monitored.
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What involves pre-contract?
What involves pre-contract?
The pre-contract phase involves understanding project requirements and creating a request for proposal.
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Contract management importance?
Contract management importance?
Effective contract management is essential for achieving project success.
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