Project Control and Financial Management Quiz

What is the MOST important information that a construction project proposal should include regarding the proposer's organization and capabilities?

All of the above

Which of the following is the LEAST common method for determining payments for professional design services?

Fixed lump-sum fee

What is the primary purpose of program development in a construction project?

To translate the project's objectives into the physical aspects of the completed facility

Which of the following is the LEAST important factor for the architect to consider when developing general concepts for a facility project?

The proposer's understanding of the project Signup and view all the answers

Which of the following is the LEAST important factor for a construction project proposal to address regarding the proposer's capabilities?

Local knowledge of the project site Signup and view all the answers

Which of the following payment methods for professional design services is MOST likely to incentivize the designer to minimize construction costs?

Percentage of construction cost Signup and view all the answers

What is the primary focus of top-down budgeting in project management?

Collecting judgments and experiences of top and middle managers for cost estimation Signup and view all the answers

Which project planning technique emphasizes employee involvement and participative management?

Bottom-up budgeting Signup and view all the answers

What is the key advantage of utilizing a project cost system during the design phase of a construction project?

Ensuring design changes do not impact the owner's budget Signup and view all the answers

In project management, what role do lower-level managers play in top-down budgeting?

Continuing the breakdown into budget estimates for specific tasks Signup and view all the answers

Which budgeting strategy involves estimating resource requirements and durations at each step of the Work Breakdown Structure (WBS)?

Bottom-up budgeting Signup and view all the answers

What is the characteristic of a working budget referred to as the engineer's or architect's estimate?

Continuous review to prevent exceeding the owner's budget Signup and view all the answers

What are the two key things that should be accomplished early in the planning and feasibility study stage?

Defining the project's objectives and establishing a relationship between the client/owner and project delivery organization Signup and view all the answers

What is the term used to refer to the process in which design professionals are required to submit a proposed fee with their proposals?

Fee-bidding Signup and view all the answers

What type of selection process uses criteria other than price to select the consultant, with the fee decided after selection?

Qualifications-based selection (QBS) Signup and view all the answers

Which of the following elements would be included in the proposals under a QBS procedure?

Past experience with projects of a similar nature Signup and view all the answers

What is the purpose of establishing a relationship between the client/owner and the project delivery organization with clearly defined roles and responsibilities during the planning and feasibility study stage?

To ensure a clear understanding of the project's objectives and scope Signup and view all the answers

What is the purpose of the consultant selection process in a construction project?

To select the most qualified consultant based on factors other than just price Signup and view all the answers