Test 2 ECC 306 Spring 2018 Construction Project Management 1-10 (3 points each-t
ID: 333294 • Letter: T
Question
Test 2 ECC 306 Spring 2018 Construction Project Management 1-10 (3 points each-total 30 points) s numerous computations to determine activity start and 1. T or F Critical path method (CPM) require finish dates, float values, and the overall project duration 2. Tor F The key elements of construction disputes are fault and cost 3. TorF A Base Calendar does not apply to all activities in a project. 4. Tor F The most common cause of failure of construction companies involves cash flow management 5. TorF Computers are ideal for repeatedly performing mathematical computations on a set of data 6. Tor F Contractors need not be careful in selecting the appropriate interest rate to use for analysis of positive and negative cash flows. 7. TorF It is common practice among construction firms-particularly those specializing in highwa company-owned equipment. y or heavy construction -to set up a "separate company" in an accounting sense, for the 8. T or F Subcontractors typically do not request monthly payment for services rendered. 9. Tor F Typically, general contractors' payments to subcontractors are only after the general contractor has received payment for that work from the owner. 10. T or F Construction progress is generally measured in terms of days working days and calendar days 11-18 Short Answer 5 points each-40 points total 11. Construction estimates are generally based ona 12. A date, finish date, or other aspect of an activity. a. date b. constraint c. value d. event time is a restriction imposed on the start 13. Identify the advantages and disadvantages of utilizing subcontractors on construction projects.Explanation / Answer
1. true, yes critical path method use numerous computations to determine activity start and finish date , float value and the overall project distribution.
2. true, the key element of construction disputes are fault and cost .
3. False, the base calender is used in all the activity of the project.
4. true, one of the common causes of the failure of the construction company is the bad cash flow management .
5. true , computer are ideal for .repeatedly performing the mathematical computation on a set of data.
6. false, contractor need to be careful in selecting the appropriate interest rate.
7. false, no this is not a common practice.
8. True , subcontractor did not reaquest for the monthly payment for the service rendered.
9. True, subcontractor will be paid only after the payment of the contractor.
10. yes true, construction program is generally measured in terms of working days.
11. construction estimates are generally based on unit rate and resources.
12. A constrant is a restriction imposed on the start date,finish date and other aspects of an activity.
13. Following are the advantages and disadvantages of utilizing subcontractor on construction projects-----------
disAdvantages------------
1. it can be only used in the large projects.
2. subcontracting become costly.
3. To relay on the subcontractor business doesnot develop skill in house.
4. subconracting may arise lack of motivation and commitment in the permanent employees.
Advantages---------
1. It provide the facility to temprory cover of permanent staff job.
2. subcontractor can start the work at short notice also when you require more staff.
3. Hiring a subcontractor give more flexibility to your specific job or the task.
4. this can also allow that your permanenet staff can concentrate on the core business only.
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