What is a contract? What are the different types of civil engineering contract? State the suitability of Item rate contract. How does the contractor quote the rate and get payment in item rate contract?

Q: With an increase in quantities, the unit price drops due to: Reduced contribution of fixed costs…

A: With an increase in quantities, the unit price drops due to economies of scale. The fixed costs does…

Q: What is the difference between a typical contract and an engineering contract? Explain.

A:

Q: The significant feature of ‘unit price contract’ is that the price per unit. Although quantities may…

A: In a unit price contract, the contractor is relieved of the risk of estimating uncertain quantities…

Q: Why do the contract change need evaluation?

A: An agreement which follows the law is known as contract. The contract in construction is mutual or…

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: What is contract? Discuss different types of contracts in detail with suitable examples

A: A Contracts is a legal framework or a set of rules which are carried out to establish a legal…

Q: What are the various types of contracts? Discuss various stages in contract placement.

A: The task of doing any work or item of work under some prescribed set or terms and conditions by…

Q: How can Some of the risks be transferred to others by contract?

A: The risk management technique in which the risk in a contract for project is transferred from one to…

Q: There are several types of construction contracts. However, often a standard form of contract is…

A:

Q: What are the five principles of contract administration?

A: Six priciples of contract management:

Q: What are the  five basic rules of contract interpretation that are important in construction…

A: Contract interpretation starts by seeking out the decisions parties made.

Q: assess how time, cost and quality affect the selection of a contract

A: Estimation and Costing : The practice of estimating or assessing a number through the estimation,…

Q: List three general reasons why actual costs may exceed estimated costs on a lump-sum contract.

A: The general reasons due to which the actual costs may exceed estimated costs on a lump-sum contract…

Q: What is the Contractor Participation in Value Engineering?

A: - Value Engineering is a type of engineering method in which optimum value for both initial…

Q: D1. Construction Contracts and Bidding: i) Describe in details the different contract and bidding…

A: Introduction- The process of submitting a proposed tender to conduct or oversee the execution of a…

Q: tendering process

A: Tendering process is really a requires long strategic planning to any firm as well as for…

Q: Draw a schematic diagram to illustrate the contractual relationships in the construction industry…

A: As civil engineers or relationship managers, we have to take responsibility for maintaining peace…

Q: How does the contract administration use the  work flow?

A: Contract administration could be defined as a multi-stage process that goes on through the entire…

Q: When do most disputes in construction contracts occur?

A: When a construction dispute occurs, the contracting parties may wonder which is the best course of…

Q: How does a manager of a construction company make a decision under uncertain situations

A: in General  way is to conduct a free speech meeting where some well performing employees are allowed…

Q: Give an insight and reflection about this "Development of cost engineering system in construction"

A: Introduction:- The current construction pricing system comprises not only budget production at the…

Q: Choice 1 Extreme ease of use Choice 2 Designer preference Choice 3 Project owners requiring it…

A: BIM = Building Information Model  it is a tool which is used to distinguish the 3D modelling from…

Q: Identify at least FIVE of the components identified in the text & in class which are included in…

A: Introduction- Calculating the worth of your job as a building contractor is difficult. To mention a…

Q: Can anyone please explain the difference between negotiation, mediation, arbitration, litigation in…

A: The majority of design, as well as construction contracts, include "conflict resolution" clauses.…

Q: Develop your concept that what will be the effect of inflation on money if it is not invested. Also…

A: Inflation can be described as sudden increase in prices of goods and services within specific period…

Q: Why Cost + Percentage Fee Contracts are not preferred by the owners

A: The construction contract is a legal agreement between owner and contractor, which has details about…

Q: Discuss the primary advantages and disadvantages of bidding for: (a) public work; (b) private work.

A: Tendering Process under development is a course of presenting a proposition to attempt government…

Q: What are the steps in competitive bidding (Single-stage

A: Q1 ans The five steps in competitive bidding are: 1) Research and Planning: This progression…

Q: How accurate is a strategy for estimating the costs of engineering projects?

A: Construction projects are very different from products manufactured in assembly lines: each building…

Q: Explain the significance of unit cost in the context of a task order pricing structure.

A: A pricing structure establishes and arranges the prices of your company's goods and services. A…

Q: Discover warranty and warranty period in a contract, explain it briefly and include example

A: A warranty is a written guarantee that a seller issues to a buyer regarding particular claims. The…

Q: what does a company evaluate both the money allocated to a project and the time allocated to the…

A: A company evaluate both the money allocated to a project and the time allocated to the project

Q: Professional engineers should undertake services for clients only when they really need the fees or…

A:

Q: Who is in control of construction means and methods in a construction contract?

A: The construction means and methods refer to the resources such as building materials, labor,…

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: the 4 types of contracts according to its advantage to a project contractor. Discuss  why by citing…

A: four types of contracts are as given below : 1. Lump sum contracts 2. Time and materials contracts…

Q: What are the four guidelines for allocation of risk in construction contracts?

A: Risk is defined as an unpredictable occurrence or collection of circumstances that will impact the…

Q: What are some of the examples of fixed-price incentive contracts?

A: Fixed-price incentive contracts are fixed-price contracts but with the incentive given for finish…

Q: What risks can occur when operating with external contractors

A: A contractor in the construction industry is a person or company that has a contract to do work or…

Q: C. There has always been the need to protect Client from Contractors who cannot to perform…

A: A tendering is a presentation submitted by a potential customer in reaction to a company's offer…

Q: How are the field cost indexes derived?

A: Field Cost indices in construction : Most of the information used to compile construction price…

Q: A kind of monetary compensation provided to the employee for their work performance: Blank 1 Blank 1…

A: A kind of monetary compensation provided to the employee for their work performance Incentive.

Q: What are the most commonly used cost estimating methods for software?

A: Cost estimation  Cost estimation means estimating the cost values of various items involved in any…

Q: Q1-b- Answer to the following (answer five only) - Define the negative cash flow - What is the…

A: 1.Define the negative cash flow . Negative cash flow is defined as when a business spends more cash…

Q: Explain the following terms in detail.  i) Contract ii) Types of Contracts

A:

Q: What are the examples of unit price contracts?

A: The estimated quantities of items and unit prices on the hourly rates, rate per unit work volume…

Q: Contractors are required to determine their build up rates for every work item in a contract.…

A: Construction cost estimation is the cornerstone of every construction project. The construction of…

Types of Contracts

A verbal or written agreement between a person and a firm, for undertaking construction, material supply, maintenance, and repair work which is enforceable by law is termed as a contract. The person who undertakes the contract for execution of the work is termed as a contractor. The contracts are classified into different types depending on the nature of the contract.