Define the term Productivity Losses?
Q: Is risk management important in the management of construction or IT projects?
A: Yes, Risk management is very much important in the management of construction or IT projects. both…
Q: Explain what does the CPM method of time cost trade offs provide ?
A:
Q: Provide a technical justification for the following: i. Formula for price adjustment (escalation)…
A: Price adjustments on account of increases or decreases in the costs of products and services in…
Q: Discuss about the provision of workers compensation laws regarding to exclusivity and significant.
A:
Q: Explain the tender procedures?
A: Tendering is the process of making an offer, bid or proposal, or expressing interest in response to…
Q: What is the difference between first cost and life-cycle cost?
A: The difference between the First Cost and Life-cycle cost is given in following table.
Q: Which one of the following steps of the Typical Project Sequence requires the most participation…
A: Every initiative seems to have a start, a middle stage wherein actions take the project closer to…
Q: Define the term Contractual Allocation of Risk?
A: Risk management is the method of defining threats and deciding whether they can be distributed, and…
Q: Why do owners frequently call for alternative prices to be quoted with bids for construction work?
A: It Is quite common for project owners to ask contractors to provide alternative bids for work or…
Q: Explain the difference between unit-cost estimating methodsand resource enumeration methods. When…
A: Unit cost is the ratio of resource costs to the production rate. Resource costs and production rates…
Q: Can you produce an accurate forecast of the cost of a project using the cost-per-unit method of…
A: Estimation of the building is important in pre-planning so that a rough estimate can be prepared and…
Q: What are the three levels of accuracy recognized in estimating capital costs?
A: Different levels of cost of capital estimates offer key input for choices over the lifetime of…
Q: Interpret the objectives of life-cycle costing and discuss the importance of determining building’s…
A: Solution- Objective- The goal of life lifecycle costing would be to minimize life - cycle cost by…
Q: What should you do when paying for materials off site?
A: The client or the contractor at times is required to pay for materials that are not present on the…
Q: List all activities during construction including the documents, from mobilization to turnover, in…
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Q: When do Finance Failure Risks occur?
A: The financial failure risk is the possibility of losing the money invested on a project or any work,…
Q: Wich is the major risk in a construction project?
A: Each construction project is exclusive and comes with its own set of opportunities and challenges.…
Q: What three important criteria must a part program satisfy in order to qualify for use in production…
A: Part programming- NC part programming with CAD/CAM is a more advanced kind of computer-assisted part…
Q: What is a payless notice?
A: Pay Less Notice is defined as the notice which is written in order to notify the Payee from the…
Q: What payments are typically linked to Substantial Completion? And to Final Completion?
A: In any construction project, the owner must make monthly or regular payments to the general…
Q: Describe the major differences between Production Risk and Project Risk
A: Project Risk: It is an uncertain situation that can impact the project objective and achievement.…
Q: What is the final progress payment?a
A: The progress payment refers to the payment of the work based on the percentage completion. In most…
Q: What are the four fundamental concerns that must be addressed by the value engineer?
A: The engineer is responsible for the completion of the construction project. The engineers work hard…
Q: What are the Loss and Expense heads of claim?
A: The loss and expense is a claim in the construction contracts which is presented by the contractor…
Q: Who is responsible of sharing the risk problems at construction projects?
A: The given question is to determine the responsibility of sharing risk problems at construction…
Q: What trade-offs are involved in each of these aspects of inventory management?c. Conducting cycle…
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Q: Discuss “bid rigging” in detail, and suggest how an organisation can address it.
A: When opposing parties collaborate to choose the winner of a bidding procedure, this is known as bid…
Q: How can we find asset value after 'a' years in service ?
A: The reduction in the value of an asset after serving a period of time is called depreciation. To…
Q: Why does the contractor not want to make a commitment to unit -price amounts?
A: In Unit price amount contract, it is a commitment by the contractor to fix the rates of each and…
Q: How can the Disputes be solved in risk management?
A: Risk management is important for preventing legal disputes.
Q: Explain difference between “Escalation and Liquidated Damages”. Write how site conditions affecting…
A: Escalation Damages:- Damages from escalation are typically calculated by comparing the cost of…
Q: How can the measurement for payment be done?
A: The unit of measurement applicable for which payment will be made for facilities of the water system…
Q: You should have picked up that companies that employ this message need cost recorded to generate…
A: Invoicing and Billing it is an important document that indicates the sale supply to the site. It…
Q: What is the derivation of the costing of a new item of work not included in the original contract?
A: When there is a new item which is not included in the original contract then the following steps are…
Q: What would be the result of failure to agree on change order pricing?
A: A change order is a work that has been removed or attached to the original contract of work, but…
Q: What is the process for a compensation event?
A: process for compensating event mention below:
Q: Why is the accurate pricing of labour and equipment very difficult on some projects?
A: Productivity in construction is defined .since labour constitutes a large part of construction cost…
Q: What is the purpose of a price allocation form?
A: The price allocation form is a start to finish list of work item on a project that represent the…
Q: Explain the statement Contractual Allocation of Risks?
A: Risk is defined as term which is used to denote the probability or chances of experiencing any…
Q: What are the five main items of the cost of a project?
A: - Different categories of cost of a project are, 1- Direct cost - It includes cost related to…
Q: How are the field cost indexes derived?
A: Field Cost indices in construction : Most of the information used to compile construction price…
Q: Give the example of indirect costs?
A: Indirect cost: Indirect costs would be those who impact the whole business, such as depreciation,…
Q: What is the Annual Equivalent Worth Criterion?
A: When the equal payments on annual basis are determined for measuring investment worth then it is…
Define the term Productivity Losses?
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