Construction Management
5th Edition
ISBN: 9781119256809
Author: Daniel W. Halpin, Bolivar A. Senior, Gunnar Lucko
Publisher: WILEY
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Question
Chapter 4, Problem 7RQE
To determine
Explain the circumstances when the cost plus contract is favourable for both a contractor and an owner.
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Under what circumstances is a cost-plus contract favorableto both owner and contractor?
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- What are the three types of authority exercised in a construction contract?arrow_forwardC. Discuss the consideration provided under construction contracts by a. Client b. Contractorarrow_forwardWhat questions should the owner consider before giving the responsibilities to the contractor?arrow_forward
- What procedural steps should be taken by the contractor in a contract?arrow_forwardDoes the construction contractor make a site inspection and evaluation of conditions prior to bidding?arrow_forwardMany contracts require that the contractor prepare and present the construction schedule and receive the owner's approval before any contract payments are made.Explain in detail what are the three elements of the contractor 's schedule that the owner will typically be interested in?arrow_forward
- Should any of the parties bring an attorney to a construction meeting? If one does, what should the other party do?arrow_forwardWhich of the following shall be excluded in the contract costs of a construction contract? a. Costs that are directly attributable to contract activity in general and can be allocated to the contract b. Selling costs such as advertisement expense or commissions of real estate agents or brokers c. Costs that directly relate to the specific contract d. Such other costs as are specifically chargeable to the customer under the terms of the contractarrow_forwardWhat is Sub- Contractor failure?arrow_forward
- Select a type of construction contract and make a brief discussion of its advantages and disadvantages to both the contractor and the owner.arrow_forwardWhat specific functions of the Resident Project Representative are specified in the contract?arrow_forwardWhat types of bonds are required to be provided by a bidder/contractor on a public works contract?arrow_forward
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