Modification made after the agreement on construction documents Right
Ans - Change order, construction change directives, minor changes in
architect' supplemental instructions
Construction change directive Right Ans - Owner and contractor unable to
agree on cost and time, and owner direct a change in the work. Signed by
owner and prepared and signed by the architect
Change orders Right Ans - written permission or instructions concerning
any aspect of a project that modify design concepts, construction designs, or
product specifications. Signed by owner, contractor and architect
Cost Plus Fee Right Ans - The contractor is compensated for the actual
expenses of labor, materials, and subcontractors in addition to a fixed fee.
Contractor warranties Right Ans - 1. Statue of limitation; statue of repose
2. Product warranty
3. 1 year warranty period
RFI Right Ans - A question from the contractor to the designer or to the
client
SD basic services Right Ans - Review information, codes; preliminary
selection of major building system and construction materials; basic
consideration of environmentally responsible design; estimate cost; consider
value of alternative design choices.
Owner's right when contractor making a mistake Right Ans - Have another
contractor do the correction;issue a change order; issue a construction change
directive; terminate contract at any time.
Prevention Costs Right Ans - costs associated with preventing defects
before they happen
Direct Labor Right Ans - All labor of technical staff, principals and support
staff that is directly chargeable to projects
, Indirect Labor Right Ans - All labor not charged to a specific project or
revenue-producing account such as administration, general office time and
marketing
Net Operating Revenue Right Ans - The money that remains from billing
after deducting fees and expenses, reimbursable expenses and non-
reimbursable project-related expenses
Overhead Rate Right Ans - Total office overhead / total direct labor (1.3-
1.5)
Revenue per Technical Staff Right Ans - The amount of net revenue
produced per technical staff member, or those staff members most directly
involved with charging direct time and producing jobs
Revenue per Total Staff Right Ans - Amount of net revenue produced per
staff member per year, including principals and part-time employees
Annual net operating revenue / total number of employees
Net Multiplier Right Ans - Net revenue of the firm /Cost of direct labor
Performance Bond Right Ans - A contract bond guaranteeing that a
contractor's work will be completed according to plans and specifications.
Labor and Material Payment Bond Right Ans - A bond guaranteeing to the
owner that the contractor will pay for all labor and materials used for the
project.
Liquidated Damages Right Ans - An amount, stipulated in the contract, that
the parties to a contract believe to be a reasonable estimation of the damages
that will occur in the event of a breach.
Schedule of Values Right Ans - A statement furnished to the architect by the
contractor reflecting the amounts to be allotted for the principal divisions of
the work. It serves as a guide for reviewing the contractor's periodic
applications for payment.
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