Exam 4: Project Delivery Methods

An advantage of the design/build approach is that a firm's fixed price is established before construction begins.

Historically, a "master builder" was hired to build a project. Today, the same approach would be most like which delivery method?

A unit-price contract provides an owner with price competition while still allowing for an increase or decrease in actual versus estimated quantities.

In a guaranteed maximum price (GMP) contract, costs above the GMP are covered by the contractor.

A project is rushed into design without a total understanding of the owner's needs. As the project moves through the design, additional requirements are added, increasing the project budget. This is an example of ????

In a pure construction management approach the construction manager usually guarantees the overall price of the project.

When assessing the risks applicable to a project, one must also look to the owner organization and the manner in which decision making occurs.

The term fast track--------

The choice of which delivery method is correct is a factor of perceived risk. Which of the following is a source of project risk?

In which of the following project approaches is owner oversight most difficult to apply?