Contract Terminology Quiz
11 Questions
0 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

Which of the following is NOT included in the Contract Documents?

  • Schedule D - CONTRACT TASKS MATRIX
  • Validation Report (correct)
  • Design Services
  • Amendments agreed upon between the parties

    • What is the Design/Procurement Phase?

  • The phase when the Design Services are completed
  • The phase when the Owner accepts the Validation Report (correct)
  • The phase when the Contractor is identified in the Agreement
  • The phase when the Project is implemented

    • What is the Estimated Final Cost?

  • The sum of all Reimbursable Costs incurred through to the end of the Warranty Phase
  • The final target cost developed by the PMT during the Design/Procurement Phase
  • The sum of Reimbursable Costs incurred and estimated Reimbursable Costs to complete the Design Services and the Work (correct)
  • The target cost of the Design Services and the Work, developed or confirmed by the PMT

    • What is the Milestone Schedule?

    <p>The Project schedule determined by the PMT that projects milestones for the Design Services and the Work</p> Signup and view all the answers

    Which one of the following best describes the Base Target Cost?

    <p>The total cost of the Design Services and the Work, including all Reimbursable Costs and appropriate contingencies and allowances.</p> Signup and view all the answers

    What are Construction Documents?

    <p>Digital models, drawings, specifications, and other documents prepared by the Design/Construction Team and approved by the PMT to describe the whole or any part of the Work.</p> Signup and view all the answers

    When does the Construction Phase of the Project start and end?

    <p>The Construction Phase starts upon the issuance of the notice to proceed by the PMT and ends on the date of Substantial Performance of the Work.</p> Signup and view all the answers

    Which team is responsible for providing management-level guidance for collaborative planning, design, and construction of the project?

    <p>Project Management Team (PMT)</p> Signup and view all the answers

    What are the components of Project Objectives?

    <p>Funding requirements, Base Program, Added Value Incentives Items selected by the Owner</p> Signup and view all the answers

    What is the definition of Substantial Performance of the Work?

    <p>When the Work is ready for use or is being used for the purpose intended and is certified by the PMT</p> Signup and view all the answers

    What is Target Value Design?

    <p>A process that includes Project values, cost, schedule, and constructability as the basic components of the design criteria</p> Signup and view all the answers

    More Like This

    Contract Terminology Quiz
    6 questions

    Contract Terminology Quiz

    WorthwhilePyrite5473 avatar
    WorthwhilePyrite5473
    Contract Terminology Quiz
    11 questions

    Contract Terminology Quiz

    WorthwhilePyrite5473 avatar
    WorthwhilePyrite5473
    Contract Terminology Quiz
    11 questions

    Contract Terminology Quiz

    WorthwhilePyrite5473 avatar
    WorthwhilePyrite5473
    Insurance Terminology Quiz
    15 questions

    Insurance Terminology Quiz

    SelectiveLagoon4087 avatar
    SelectiveLagoon4087
    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser