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RICS SOE Hooks > FINAL DECK > Flashcards

FINAL DECK Flashcards

1
Q

What is included in an RFP

A

1) Project overview
2) Scope of work (Design docs, specs)
3) Programme
4) Submission guidelines
5) Mark scheme (evalautaion criteria)
6) Contract T&Cs
7) Contract info

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2
Q

What are the three main TENDERING strategies

A

1) Single Stage
2) Two Stage
3) Negociated

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3
Q

What is open tendering?

A

It’s a process that involves advertising the contract opportunity and inviting interested parties to offer bids for the work.

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4
Q

What is selective tendering?

A

A process where only selected contractors are seletected to bid

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5
Q

What is negociated tendering

A

Negotiated tendering involves the buyer approaching a single supplier to ask them to deliver the work.

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6
Q

How do you advertise open tenders?

A

The proposed tender opportunity is usually advertised in journals or on websites, newspapers etc.

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7
Q

What is the difference between Deed or Underhand

A

Deed = 12 year limitation period

Understand = 6 year limitation period

Deed required more signatures

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8
Q

How would you recommend a contract form to your client?

A

Appetite for risk, cost and programme available to you

It will vary depending on the type of project being developed also. A D&B contract would be beneficial for developing a specialized building facility for example.

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9
Q

NEC

A

NEC large scale infrastructure.
Useful for collabroative risk sharing.
Programme contract document.

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10
Q

Third party right

A

Provides protection to the client similar to collateral warrenties.
Scheduled in a contract.

Collateral warrenty is a separate document.

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11
Q

What is a bond?

A

In finance, a bond is a type of security under which the issuer owes the holder a debt, and is obliged – depending on the terms – to provide cash flow to the creditor

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12
Q

What due dilligence would you need to do to validate a parent company gurantee

A

You could request an audit of the parent company.

You could comission a Dun and Brad Street report.

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13
Q

Why would you want a parent company guarantee over a bond?

A

Its free.

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14
Q

Key changes to JCT 2024

A

1) Uses more inclusive gender neutral language throughout
2) The contract now addresses the appointment of Principal Designers and Principal Contractors under the new Building Regulations, with obligations for compliance.
3) EOTs now incluse epidemic-related delays, discoveries of absetos, contaiminated materials or unexploded ordenance.
4) EOT response time reduced to 8 weeks from 12
5) Relevant events now alight with EORs in regards to pandemics and statutory powers
6) Clauses for payment timeline after termination.
7) Contractor liability for design specified to the required level of skill and care
8) Insolvency updated to reflect changes in insolvency legislation
9) now liquidated damages are recoverable until works are completed, or the contract is terminated
11) Collaborative working, sustainable development considerations, and dispute resolution clauses are now default provisions without an option to opt out.

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15
Q

RICS business plan

A

Rebuilding trust trust and confidence in the profession after the findings of the Levitt report.

Post pandemic, ensure the RICS is both resilient and future-focused,
and ready to support professionals to deliver confidence.

Increase demand for RICS professionsals.

Ensure the RICS is championing the cutting edge of sustainable and modern technologies.

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16
Q

How do you deal with a client who wants you to deal in cash

A

Insist on a bank payment.

You cannot accept a cash a payment of more than £10,000.

Ensure payments are auditable.

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17
Q

RICS client money protection scheme

A

Reimbursment of direct funds
Maximum limit of 50k

18
Q

How did you select the procurement strategy

A

the client body,
the project type and size,
the time available,
the cost certainty required and the responsibility for design

19
Q

Can you outline Single stage tendering?

A

Invitation to tender documents issued to say 3 contractors.

All submit bids based on identical tender documentation, due after a pre determined set of time.

Usually at Stage 4.

1x contractor is declared the preffered, and entere into contract with.

20
Q

Can you outline Two stage tendering?

A

Allows tendering and design to overlap, used when contractor input would be beneficial.

First Stage tender enquiry docs issued, usually RIBA 2 to 3.

Preferred contractor is chosed on the basis of:
1) The quality of their bid.
2) Quality of their team
3) Prelim costs, overheads and profit allowences.

Preffered contractor then joins the design team on a consultancy basis under a PCSA.

Contractor works with design team to complete design. FInal bid presented at RIBA 4.

21
Q

Can you outline what a negociated tender is?

A

A negotiated tender is effectively a single-stage tender
with a single contractor who returns with an initial
price.

This is then negotiated with the client’s
professional team (usually the professional quantity
surveyor (PQS)

22
Q

What are the advantages of using a two stage tender strategy?

A

A quick start on site is required (tendering and design can overlap).

As contractor has inputted on design, there will be more buildability input. Less design discoverables.

23
Q

What are the disadvantages of using a two stage tender strategy?

A

Programme must include tender period (unlike a negociated tender).

24
Q

What are the advantages of using a single stage tender strategy?

A

Most competitive prices
Most linear form of tendering

25
Q

What are the disadvantages of using a single stage tender strategy?

A

No contractor design involvement.

May lead to high levels of provisional sums and risk items on the client side

Does not allow for design and build overlapping

Programme must include tender period (unlike a negociated tender).

26
Q

What is your complaints handelling procedure?

A

Once received I will provide written acknowledgement within 7-days.

I will notify my project Partner and Company Secretary & Governing Counsel Imelda Moffet, who will log this within the Complaints Handling Log.

I will notify G&T’s PII insurer ‘Marsh’

I will provide a formal written response within 28 days.
- If resolved G&T will undertake an internal audit in order to prevent the issue from reoccurring.
- Following this, then the Company Secretary & Governing Counsel will update the Complaints Handling Log based on this outcome.

However, if the complaint is still unresolved then an independent redress provider would review this such as the RICS Dispute Resolution Service.

27
Q

Are you aware of any guidance published by RICS in association with complaint handling?

A
  • RICS Guidance Note on Complaints Handling published July 2016
  • Guidance Note on complaints handling states that the CHP should:

o Be fit for purpose
o Be made available and understood by all staff
o Be shared with complainants or potential complainants
o Be regularly reviewed and updated
o Be agreed with PII brokers so that they do not compromise cover
o Provide details of the independent redress if the firm cannot resolve the complaint

28
Q

What are the duties of responsibility for the Principal Designer and Employer under CDM?

A

CDM aims to improve health and safety in the industry by helping you to: sensibly plan the work so the risks involved are managed from start to finish

Both the principle designer and employer are liable if they are found to have not upheld these.

The client must make suitable arrangements for managing the project, including:
- Due diligence the works are reasonably practical and without risks to health and safety of any person effected by the project
- Facilities must be provided for peoples carrying out the works.
- Facilities must be maintained

Before construction works begin they must draw up a construction phase plan and the principle designer must prepare the health and safety file for the project.

The client must appoint a principle designer or fulfil the duties themselves

29
Q

Who are the key duty holders under CDM?

A

Commercial clients - Organisations or individuals for whom a construction project is carried out that is done as part of a business

Domestic clients - People who have construction work carried out on ther home (not onbehlaf of a business)

Designers - Organisations or individuals who as part of a business, prepare or modify designs for a building, product or system relating to construction work.

Principal designers - Must be appinted by client in projects involoving more than one contractor.

Principal Contractors - Contractors appointed by the client to coordinate the construction phase of a project where it involves more than one contractor.

Contractors – Those who carry out the actual construction work, contractors can be an individual or a company.

Workers – Those working for or under the control of contractors on a construction site.

30
Q

What is a cashflow

A

the inflows and outflows of cash in a business over a specific period.

It helps in planning for liquidity, identifying potential cash shortages, and ensuring that the business can meet its financial obligations.

31
Q

What is a profit and loss statement?

A

The profit and loss account shows the revenue, expenses, and profits or losses of a business during a specific period (usually a quater of a financial year).

32
Q

What is a balance sheet?

A

The balance sheet shows a company’s assets, liabilities, and equity at a specific point in time.

33
Q

What is the purpose of an ESCRO

A

holding account for any project purpose

34
Q

How do you select a form of contract

A

always think about the three key criteria – cost, quality, programme

35
Q

What is the process for agreeing a valuation?

A

JCT contract section 4 - payment

1st – contractor submits application for payment

1-8th – QS undertakes valuation

8th Nov – due date (the date the QS needs to issue the vaulation. (7 days after)

13th Nov (5 days after)– I issue payment certificate as the CA (5 days later)
17th Nov (8 days after) – client issues pay less notice if applicable (5 days before due date)

22nd Nov final date for payment (14 days after due date of valuation cert). JCT contract states 14 day time period between due date and final date for payment

However this is often amended to 21 or 28 days for some clients

36
Q

How is PC defined and certified?

A

When works are complete to a standard when the employer can occupy the space, aside from minor snagging. Beginning of the defects liability period. Approval from the project architect, building control, and any relevant subcontractors. As the contract administrator:

The CA will issue a certificate of practical completion which may include

  • PC Cert
  • O&M
  • List of defects
  • Comissioning certs
  • Building control sign off
  • Letters of reliance
  • Health and safety file,
  • Contractor confirmation works are complete
  • Confirmation all planning conditions are discharged
37
Q

What is the process of issuing a certificate of making good?

A

It is issued when in the opinion of the Contract Administrator the Contractor has rectified and made good all defects described in the Schedule of Defects and any other faults within time frame of the Rectification Period of time allowed by the Contract Administrator and confirmed in writing.

38
Q

What warranties and insurances did you have on your project

A

Warrenties: Collateral warrenties, material warrenties

Insurances: JCT option C insurances, Public liability insurance, Professsional indemnity insurance.

39
Q

What are bonds?

A

Bonds are a means of protection against the non-performance of the contractor. They are an undertaking by a bondsman or surety to make a payment to the client in the event of non-performance of the contractor.

40
Q

How would you assess a tender?

A

Price.
Relevant experience.
Understanding of the requirements.
Past performance.
Technical skills.
Resource availability.
Management skills and systems.
Proposed methodology (this might include mobilisation plans, design proposals, and non-compliant proposals if these have been allowed).
Compliance with the requirements set out in the invitation to tender.

41
Q

What are the 5 principals of better regulation?

A

REGULATION
· RICS is self-regulated (not regulated by the government/external body) because it adheres to the principles of better regulation in order to inspect itself and prevent the need for legislation

  1. PROPORTIONALITY
    · Regulators should intervene when necessary and remedies should be appropriate to risks
    posed.
  2. ACCOUNTABILITY
    · Regulators must be able to justify their decisions to prove complete fairness.
  3. CONSISTENCY
    · New regulations should take into account of existing or proposed regulations.
    · Regulators must adopt a fair and consistent common sense approach.
  4. TARGETING
    · Guidance and support must be adapted to the needs of different groups.
    · Regulations should be systematically reviewed and updated when necessary.
  5. TRANSPARENCY
    · Regulators should be open and honest.
    · Regulations should be simple and clearly defined.
    · Regulations should be issued in a reasonable timescale before they take effect.
    · Those being regulated should be made aware of their obligations.

RICS SOE Hooks (6 decks)

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