Ballast - Chp03_Delivery of Services

Question 1

PROJECT DELIVERY

Answer 1

Describes the entire sequence of events that is needed to provide an owner with a completed building

Question 2

CONTROL ESTIMATE

Answer 2

is the sum of the CM’s estimate of the cost of work plus the CM’s fee

Question 3

DESIGN-ASSIST CONTRACTING

Answer 3

Method in which specialty subcontractors or trades are included early in the design and construction document phases to help with the development of complex or unique portions of the building.

Question 4

PRACTICE METHODOLOGIES

Answer 4

Are the various approaches that an architectural firm may use to complete various aspects of a project, including design, documentation, and coordination.

Question 5

FIXED-PRICE METHOD (STIPULATED SUM/LUMP SUM)

Answer 5

Contractor gives the owner a set price for completing the project. Owner is not responsible for cost over-runs. However, Owner does not share in any savings.

Question 6

COST-PLUS-FEE Method w/ a GMP (Guaranteed Maximum Price)

Answer 6

Owner pays actual cost of construction (direct plus indirect costs) + a Fee that is agreed on before construction begins, and the CM guarantees a Maximum Price. If project is completed for less than this amount the client receives the cost saving.

Question 7

MULTI-PARTY AGREEMENT

Answer 7

is a single agreement executed by the owner, architect, contractor, and other key project participants for the design, construction, and commissioning of a project

Question 8

TRANSITIONAL FORMS

Answer 8

Are modeled after existing CM Agreements

Question 9

SINGLE PURPOSE ENTITY (SPE)

Answer 9

is an independent limited liability company (LLC) newly created for the sole purpose of planning, designing, and constructing a particular project.