CMGT 8435 Final Exam Flashcards
What is the provision in the CCDC 2 which allows the Owner to make
changes in the work, either through a Change Order or a Change Directive?
General Condition (GC) 6.1
What is the similarities between the Change Directives and Change Orders?
Change Directives and Change Orders both address changes in construction projects.
What is the difference between the Change Directives and Change Orders?
They differ in their timing, nature, and processes.
What is a Construction Change Directives (CCD) and its purpose?
A CCD is a given instruction issued by the owner or client to the contractor for immediate implementation of changes in project scope, schedule, or other contract terms, allowing work to proceed while final costs and details are determined.
What is a Change Order and its purpose?
A Change Order is a formal document issued by the owner or consultants to the contractor that involves a structured process—reviewing, negotiating and making contractual modifications—to ensure clarity and protect the interests of all parties involved.
What are the leading causes of diminished job profits?
Lack of complete understanding of the original scope (contract) by superintendents and foremen and failure to correctly document the applied labour and materials are the leading causes of diminishing profits.
The Westray Bill (217.1 Criminal Code) “Duty of Care” reads: _______
“Every one who undertakes, or has the authority, to direct how another person does work or performs a task is under a legal duty to take reasonable steps to prevent bodily harm to that person, or any other person, arising from that work or task.”
What are the greatest challenges to the Project Manager (PM) team?
PM team’s greatest challenges include aligning the team’s focus on what is most important for a successful business venture and continually keeping them focused to stay on track with schedules, budgets, and contract requirements.
What is the Owner’s Equity?
The owner’s equity is the firm’s remaining cash after the liabilities are deducted from the assets in the owner’s business.
What is the Owner’s Draw?
An owner’s draw is a way for a business owner to withdraw money from the business for personal use.
What is the key to any contractor’s success?
The key to any contractor’s success is its ability to employ and retain a suitable crew and manage them to maximize their potential for the company.
____ refers to the least amount of money a person would consider working for in a particular position or type of employment.
Reservation Wage
What did the Competition Bureau of Canada amend the Competition Act to criminalize as of June 23, 2023?
Wage-fixing and No-poaching Agreements
What is a wage-fixing agreement?
A wage-fixing agreement is when competitors agree amongst each other to fix, maintain, decrease or control wages or other terms of employment.
What is a no-poaching agreement?
A no-poaching agreement is when employers agree to refrain from hiring or soliciting one another’s employees.
What is the advantage of hiring a contract staff?
The advantage of hiring a contract staff is that they can be employed for a limited period of time to achieve specific project objectives using their set of skills.
What is the disadvantages of hiring contract staff?
The disadvantages of hiring a contract staff:
- They are more expensive than permanent employees, with considerable overheads and markups added to their costs if employed through agencies.
- They don’t have an allegiance to the company, resulting in a limited royalty.
- They might not be aware of the corporate culture.
What does Human Resources (HR) personnel have to keep?
HR has to keep excellent WRITTEN records required by the Canada Labour Code as amended.
What are the four corporate cultures?
The corporate cultures are ethics, values, beliefs, and cultural elements.
When an employee quit, ____
The employee gets no compensation and should give notice beforehand as per contract.
When an employee is fired due to unsatisfactory performance or minor misconduct, ____
The employer should tell the employee that standards are not being met and must give time to improve. If there is no improvement, compensate the employee with the given notice or additional compensation for the notice period.
When an employee is fired for just cause (serious offences like fraud, theft, harassment, or assault), ____
The employee gets no compensation and notice.
When an employee is terminated without cause, ____
The employer compensates the employee’s length of service, pay out notice period instead of them staying, and give letter of recommendation.
What is the cost-to-complete report type formula?
Cost to complete = Money spent to date + Budgeted cost for remaining work
