If you work for a company that employs Percentage of Completion Method of Revenue and Profit Recognition, ________ essentially creates Revenue and Profit for the projects/company.
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If you work for a company that employs Percentage of Completion Method of Revenue and Profit Recognition, ________ essentially creates Revenue and Profit for the projects/company.
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- You should have picked up that companies that employ this message need cost recorded to generate revenue. In other words, it's vitally important that its subcontractors and vendors bill them timely and accurately. As a ProjectManager , ensure your subcontractors are complying and sending you their monthly requisitions on time?There has been the recent news of inflated project cost in the country by some politicians. This claim has put many construction professionals in very bad light. Based on the above explain the following with necessary examplesto your friends who are not in the construction industrya. Construction Costb. Cost of Constructionc. Total Project CostCost estimation plays a vital role in the success of any project. Explain the different tools and techniques due to which the process of cost estimation takes place.
- Q- Idea and purpose of project that's mean .... .... .... ... O All of them Each project has a goal, such as service, such as schools, playgrounds, state departments or commercial investment. There is a type of complementary study called feasibility study conducted by specialized consultants for the purpose of studying the subject The idea of a project requires that O objectives be clearly defined with the location of the work.Determine the % of risk that has been transferred to sub-contractors given the following information: Materials = $150,000 Labor = $158,000 Equipment = $22,000 Bonded Sub-contracts = $400,000 Other Sub-contracts = 100,000 Overhead = 70,000 a. Risk cannot be transferred or mitigated 40% 50% 60% b. C. d.when doing a Bill of Quantity (BQ) for a tendering should all the cost of the items be included in the BQ. (I want to understand how the bill of quantity works in the tendering/ bidding process, and how it should look.
- Contractors are required to determine their build up rates for every work item in a contract. Failure to adequately determine the cost components of all work item can lead to under-pricing or over-pricing. Under-pricing will lead to significant loses in a contract whiles over prices may give significant profit when awarded the project. However, over pricing may lead to non- competitive pricing. Discuss the components of work to which cost information are required by every estimator. THE TOPIC IS UNDER CONSTRUCTION MANAGEMENT FOR ENGINEEERwhat does a company evaluate both the money allocated to a project and the time allocated to the project?Question 51 During the stage, retainage money will start to be returned to the contractors. O planning and contract O mobilization and startup O steady velocity O drawdown and closeout O amazon
- How are cost reports used by an estimatorKindly show your SOLUTION and CASHFLOW please. Thank you!7. When a project is performed under contract, the SOW (Statement of Work) is provided by which of the following? A. The project sponsor B. The project manager C. The contractor D. The buyer/owner 8. Projects are initiated in response of: A. Stakeholder's pressure B. Business needs C. Technological obsolescence D. All of the above 9. The scope statement provides all of the following EXCEPT: A. A list of assumptions B. How changes will be monitored and controlled C. Process and criteria for D. A baseline to assist in evaluating potential scope changes acceptance 10. The work breakdown structure is a deliverable-oriented grouping of project elements (products or services) which defines, or provides a structure for defining the: A. Project staffing, skill requirements, scope definition B. Work packages, control accounts, schedules C. Project change control, risk identification, labor rates D. Project charter, project plan