G Questions Flashcards
What is the Provisional Sum clause in the JCT?
The JCT defines a provisional sum as “…a sum provided for work,
identified as being for defined or undefined work within the meaning of paragraph 2.9.1 of the Measurement Rules.
What do the RICS recommend for complaint handling procedures? What happens if it cant be dealt with by the company?
Typically it’s a 2 phase procedure which includes provisions for escalating the complaint if not satisfactorily resolved.The complainant can formally lodge a complaint with RICS if the internal resolution process fails or if the complainant is dissatisfied with the outcome.
Who doesn’t need to do CPD? continous professional development
Non-practicing members are generally not required to fulfill CPD requirements. They should, however, inform RICS of their non-practicing status to ensure that their membership status is correctly updated.
cpd requirments
members must undertake a minimum of 20 hours cpd each year. 10 hours must be formal cpd.
Failure to undertake enough CPD?
you will receive a caution in accordance with Rule 4(c).The caution (called a Fixed Penalty caution) will remain on your disciplinary record for 10 years.
Final Account review timescales
Practical Completion: Project reaches practical completion.
Within 3 Months: Contractor submits the final statement of account.
Within 3 Months of Submission: Employer or employer’s agent reviews the final statement, raises any queries, and negotiates adjustments.
Agreement Reached: Final account agreed upon by both parties.
Within 2 Months of Agreement: Employer or employer’s agent issues the final certificate.
What are party wall agreements and what would you expect to see in one?
A party wall agreement is a legally binding document that outlines the rights and responsibilities of neighboring property owners when one of them intends to carry out construction work that affects a shared wall. Agreement on how any damage will be assessed and repaired.A clear description of the proposed construction or excavation work/with programme
Difference between management and statutory accounts?
management is for internal decision making normally monthly. i.e profit & loss statements/cash flow forecasts. Statutory is for external reporting annually i.e. provide a formal record of the company’s financial performance and position
what are standard brick dimensions
215mm x 102.5mm x 65mm
how many standard bricks are required per m2
60 bricks per m2
how many blocks are required per m2
10 blocks per m2
what are weep holes
small openings in the outer skin of masonry construction. weep holes provide ventilation for the cavity and allow moisture to drain away.
name 2 different types of brick bond
english bond/stretcher bond- vertical joints are staggered each time by half a brick.
what is a project charter?
A Project Charter is a formal document that authorizes the initiation of a project. It outlines the objectives, scope, participants, and responsibilities, providing a clear framework and direction for project execution
What contract provisions may affect a cash flow forecast?
Payment terms are critical; for instance, the timing of interim payments and the percentage of retention withheld can affect our liquidity. Variations and change orders also play a role; delays in approving and valuing these can postpone expected cash inflows.
what type of business structures are there?
there is sole trader/partnerships/limited liability company (Provides limited liability protection with flexible management
What is a business plan and what may be included?
business plan summarises the operational and financial objectives of a business. It is the businesses road map to success with a timescale of 3-5 years.
difference between business planning and business strategy
strategy is concerned with the entire organisation i.e what it produces and where it competes. Business plans are detailed implementation plans of the overall strategy.
WHat are building support services.
Business support services are a wide range of services designed to assist organizations in their day-to-day operations,i.e IT/Legal services