What is the Partnering Concept?

Q: Who is the Employers Agent?

A: Employer's agent is defined as the term which is used for the description of the agent who is…

Q: As the owner of the project MDS, you had defined the contractual relationshipsI parties involved in…

A: As an owner of the project, if you had defined a contractual relationship between the parties, which…

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: What are claims and disputs?

A: Claim:

Q: What are the five principles of contract administration?

A: Six priciples of contract management:

Q: What steps must be taken to set up a partnership? How cana partnership be dissolved?

A: A general partnership does not require any official documents to set up. It can be as simple as an…

Q: How is recording of Bids done?

A: Project bidding is the mechanism whereby the contractor submits a offer to the customer as a request…

Q: What is the competitive bidding process?

A: The competitive bidding process as follows: Request for proposal: The organization seeking…

Q: How is Standard Builder's Risk Insurance important?

A: In construction projects, builder's risk insurance is a type of property insurance that covers the…

Q: Write the advantages and disadvantages of the design-build contract?

A: The design-build contract is a type of contract in which the contractor has the sole responsibility…

Q: What is Specifying Partnering?

A: Partnering is a project teamwork approach designed to allow the design and construction process to…

Q: What are performance and payment bonds?

A: A performance bond seems to be a guarantee bond provided by a lending firm or bank to ensure a…

Q: On the typical project, which are the twoprime contracts made with the owner?

A: On the typical project, usually there are two different prime contracts signed with the owner.

Q: tendering process

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

Q: Give some reasons for the unbalancing bids?

A: The unbalancing of a bid is the transfer of portion of the work cost for one part of work to another…

Q: . Is the contract lump-sum, unit-price, or cost-plus-fixed-fee?

A: The lump sum contract is the most common type of an owner-contractor agreement, and is fairly easy…

Q: Why is the Insurance coverage an important contractual responsibility of the contractor?

A: Insurance is very important in case of contract.

Q: Describe the general conditions of the construction contract?

A: General requirements cover any part of the project, meaning that it may be complicated to break down…

Q: What are the performance bonds?

A: Performance bond:

Q: in which construction contract is given an accurate price fo

A: Introduction- A construction agreement is a legally enforceable contract between two parties based…

Q: . What are the payment provisions under JCT?

A: JCT Standard Building Contract 2011 payment terms are relatively complex. The system relies on the…

Q: Sourcing Criteria includes

A: Context: Sourcing criterias

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: Does every claim include some form of estimate?

A: Claims professionals square measure chargeable for estimating case outstanding on claims that square…

Q: What are the benefits of Employer Liability Insurance?

A: Employer Liability Insurance It is useful for a person/owner when one of his/her workers meets with…

Q: essary to retain at least one set of origi

A: When choosing a vendor to subcontract a project to, or to buy materials and services that are…

Q: Is Partnering a totally informal process, or should it be addressed in the specifications?

A: When a mutually developed formal ideology of communication and responsibility planned to increase…

Q: Name the participants involved in the Construction Projects?

A:

Q: Types of bidding procedures? Explain in your own words.

A: Bidding involves an attempt to lay down a starting price on even an item or brand by a person or…

Q: Differ between Assignment and sub contracting?

A: Subcontracting and assignment are two terms which are widely used in an construction project.  These…

Q: Name two types of negotiated contracts and describe themethod of payment and incentive concept.

A: There are two types of negotiated contracts are as follows: 1) Cost+Percent of cost 2) Cost+Fixed…

Q: What types of relationships are intended to be established under a Partnering agreement?

A: When a mutually developed formal ideology of communication and accountability planned to increase…

Q: What are the instructions for the Bidders?

A: The instructions to bidders is a document provided by an investment bank operating a competitive…

Q: What are the partnering benefits in construction management/

A: Project Collaboration/Partnering is a long-term collaborative management strategy in which two or…

Q: What are Bid Bonds?

A: A big bond is one of a type of construction bond, which is a guarantee by the bidder or contractor…

Q: What are bid documents?

A: A bid document is defined as an output of the planned procurement management process. It is used…

Q: Do the project records define contractual parameters within which the parties should function?

A: Let's first understand "what is project record" Managing project records is a crucial responsibility…

Q: What are the rights of all the parties in construction operations?

A: The construction of huge projects requires expertise from every field. It involves collaboration of…

Q: What are the disadvantages of the written contracts?

A: Written contract: A written contract could be a written agreement between 2 parties, one a borrower…

Q: Differ between the unit price contract and contract price?

A: The contract which is made upon the basis of estimation of the unit price of materials used in the…

Q: What is the purpose of the notice to bidders?

A: Purpose of the notice to bidders:

Q: What are the potential problems in Partnering Concept??

A: Potential problems in Partnering Concept are : 1.Different methods for management : Similar forms in…

Q: What is the order of Precedence of contract documents?

A: Construction contracts are also very broad and contain a lot of different number of documents such…

Q: What is Open Shop Contracting?

A: Open Shop Contracting - Open shop contracting means a factory, office, or other business…

Q: What is necessary to form a contract?

A: These are the key elements of a contract: Contract Basics Agreements are lawful arrangements between…

Q: 9. Name the five principles of contract administration?

A: contract administration five principles are as follows:

Management levels

Management levels are the hierarchy of all the designations of people present in a construction company or construction project. For the proper execution of the project, all the components of a management hierarchy must work properly as per their responsibility. The main objective of creating management levels is that the whole work should be distributed in parts to the respective departments of specialization in that part.