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Questions and Answers
Which of the following is a characteristic of public-private partnerships (P3s)?
Which of the following is a characteristic of public-private partnerships (P3s)?
- P3s do not involve financing or facilities management
- P3s occur when a private sector consortium is engaged by a government to deliver a complete capital program (correct)
- P3s do not alter the supply chain relationships in the design-construction sector
- P3s are generally used for smaller scale public buildings
What are the three constraints compared using a traditional project triple-constraint model?
What are the three constraints compared using a traditional project triple-constraint model?
- Cost, risk, and quality
- Time, scope, and risk
- Time, cost, and performance/quality (correct)
- Scope, schedule, and risk
Why is it important for the client and architect to recognize alignment of the project delivery risk profile with their respective risk sensitivities?
Why is it important for the client and architect to recognize alignment of the project delivery risk profile with their respective risk sensitivities?
- To eliminate all project risks
- To establish a fair exchange of value (correct)
- To ensure the project is completed on time
- To minimize the overall project risk
Which type of contracts are also known as incentive contracts, cost-plus-incentive-fee contracts, and cost-plus-award-fee contracts?
Which type of contracts are also known as incentive contracts, cost-plus-incentive-fee contracts, and cost-plus-award-fee contracts?
What does the incentive formula in an incentive-based contract determine?
What does the incentive formula in an incentive-based contract determine?
What factors can influence the award amount paid in an incentive-based contract?
What factors can influence the award amount paid in an incentive-based contract?
Which method of project delivery involves the owner retaining the services of a project management firm to oversee the planning, design, and construction projects?
Which method of project delivery involves the owner retaining the services of a project management firm to oversee the planning, design, and construction projects?
According to the text, what are the advantages of using the integrated project delivery method?
According to the text, what are the advantages of using the integrated project delivery method?
What is the key element in creating a collaborative culture for implementing BIM and IPD, according to the Canadian Practice Manual for BIM?
What is the key element in creating a collaborative culture for implementing BIM and IPD, according to the Canadian Practice Manual for BIM?
What are the disadvantages of using the integrated project delivery method?
What are the disadvantages of using the integrated project delivery method?
Which document is commonly used for pre-qualification in the construction industry?
Which document is commonly used for pre-qualification in the construction industry?
What is the purpose of having multiple contracts for one project?
What is the purpose of having multiple contracts for one project?
Who is responsible for safety at the construction site when there are multiple contracts?
Who is responsible for safety at the construction site when there are multiple contracts?
What is the most common type of fixed-price contract?
What is the most common type of fixed-price contract?
Which project delivery method includes various real estate functions as well as design and construction?
Which project delivery method includes various real estate functions as well as design and construction?
Which project delivery method is appropriate for small, complicated projects in which time is a factor or total costs are initially difficult to determine?
Which project delivery method is appropriate for small, complicated projects in which time is a factor or total costs are initially difficult to determine?
Which project delivery method is suitable when time frame is more important than construction costs and construction may begin before the design is complete?
Which project delivery method is suitable when time frame is more important than construction costs and construction may begin before the design is complete?
What is the purpose of pre-qualification in selecting a contractor for a project?
What is the purpose of pre-qualification in selecting a contractor for a project?
According to the text, what is one advantage of using the integrated project delivery (IPD) method?
According to the text, what is one advantage of using the integrated project delivery (IPD) method?
According to the text, what is one disadvantage of using the integrated project delivery (IPD) method?
According to the text, what is one disadvantage of using the integrated project delivery (IPD) method?
According to the text, why do critics argue that the cost of P3 projects exceeds the cost of the same projects delivered under more traditional forms of project delivery?
According to the text, why do critics argue that the cost of P3 projects exceeds the cost of the same projects delivered under more traditional forms of project delivery?
According to the text, why do governments and public agencies argue that P3 projects are necessary?
According to the text, why do governments and public agencies argue that P3 projects are necessary?
Which one of the following is a type of contract where the contractor is compensated for the actual costs of the work, plus a fee based on either an agreed-upon fixed sum or a percentage of the costs?
Which one of the following is a type of contract where the contractor is compensated for the actual costs of the work, plus a fee based on either an agreed-upon fixed sum or a percentage of the costs?
Which type of contract is appropriate for small, complex projects in which total costs are initially difficult to determine?
Which type of contract is appropriate for small, complex projects in which total costs are initially difficult to determine?
In a guaranteed maximum price contract, the contractor is compensated for the actual costs, plus a fee with an agreed-upon maximum price. What happens if the actual costs are below the maximum price?
In a guaranteed maximum price contract, the contractor is compensated for the actual costs, plus a fee with an agreed-upon maximum price. What happens if the actual costs are below the maximum price?
What is the basis for payment in a unit price contract?
What is the basis for payment in a unit price contract?
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