Lucy Reed 2.5.24

Question 1

What is Value Engineering? (get the key words in ie ‘costs lowered’)

Answer 1

Reduction of costs without detrimental effects to quality.

Question 2

What does a Tender Report contain? (high level - contents page list)

Answer 2

-Tender Background
-Tender Submission Details
-Tender Evaluations
-Tender Considerations (following evaluations)
-Conclusions and Recommendations
Appendices (Detailed analysis; Comparison; Post Tender Clarifications and Adjustments)

Question 3

Examples of your implementing rules of conduct eg acting with integrity?

Answer 3

Rule 1: Final Accounting - including any ‘missed’ costs.
Rule 2: Only providing advice where I am competent - eg recommending possible work options but not specifying any works.
Rule 3: Understanding what is required of me and providing my full attention together with QA procedures eg Recommendations for Payment.
Rule 4: Respecting all people I encounter within my role paying proper consideration and unbiased actions eg undertaking negotiations.
Rule 5: Identifying and calling out any improper actions eg unsafe practices on site, asking to stop, and reporting to person in charge.

Question 4

What is the definition of Bribery?

Answer 4

Inducement for an action which is illegal, unethical, or a breach of trust.
Something in return for an advantage.

Question 5

What is ‘embodied carbon’?

Answer 5

The carbon that is produced in association with the full lifecycle of a product or material, from extraction, manufacture, delivery, installation, and disposal. (excludes carbon associated with operation!)

Question 6

How did you present advice in your case study? (really high level)

Answer 6

-I summarized the problem and key issues
-Proposed options and the reasons for them
-Ran through the positives and negatives
-Offered the best solution based on which best addressed the client’s goals and priorities.

Question 7

What is PII and the definition?

Answer 7

Professional Indemnity Insurance.
Insurance to cover the consultant in the event the client suffers financial loss as a result of their actions (through error or negligence)

Question 8

What is ‘turnover’?

Answer 8

Total revenues received by a company over a defined period of time.

Question 9

What are the updates to JCT 2024?

Answer 9

Moderning:
Gender neutral language
Electronic notices and signing now given status

EoT:
-new Relevant Events (epidemics, statutory powers)
-consideration time frame now 8 weeks (prev 12 weeks)

L&E:
-additional ground (epidemics, statutory powers)
-antiquities to include: bombs, contamination, asbestos

LADs and Termination:
-LADs now only apply up to Termination. After Termination, ‘General Damages’ can be claimed.

Disputes:
-Potential disputes now need to be notified.
-Senior execs to meet early to seek negotiated settlement
-Nominating Bodies list now more choice

Fluctuations:
Increased prominence and accessibility (fluctuations hub online)

Legislation:
-Building Safety Act implications now added
-Corporate Insolvency Governance Act now added

Future Proofing:
-Construction Playbook requirements now added to main body of document

New Form of Contract:
Target Cost Contract

Question 10

Litigation in construction, what venue is this held in?

Answer 10

The Technology and Construction Court (TCC)

Question 11

Termination - what are the categories?

Answer 11

Termination by Employer
-Default by Contractor
-Insolvency of Contractor
-Corruption of Contractor (public procurement)

Termination by Contractor
-Default by Employer
-Insolvency of Employer

Termination by Either Party

Question 12

What are ‘Reckoning Days’ and what do they allow for?

Answer 12

The days identified in the contract for matters such as issuing notices, issuing certificates, etc
Allow for bank holidays.

Question 13

Where do you encounter Cash Flows in your work?

Answer 13

-Contractor submissions in relation to anticipated valuation claims and amounts during the works programme
-When reviewing Company Accounts during PQQ stages
-When reviewing competitor accounts
-When reviewing fee drawdowns on client accounts
-During Business Plan Review updates reporting on KPIs and profits generated

Question 14

What is the ICMS? (really high level)

Answer 14

international Cost Management Standards

International measure on lifecycle costing

Question 15

Case Study - ‘managing residents’ - what does this involve? (really high level)

Answer 15

-Protecting the works site ie hoarding, barriers, signs
-General updating of residents of works being undertaken and progress
-Procedures in place to register resident concerns/complaints handling eg contact details, liaison officer, catchup meetings,
-Accommodating resident needs during the works eg providing use of facilities as much as possible (laundry - evenings)

Question 16

Case Study - ‘retendering’ - what does this involve?

Answer 16

-Making a copy of the original Tender Pack and updating documentation to reflect new requirements
-Identifying suitable tenderers and drawing up a ‘confirmed’ list
-Issuing the tender pack and following normal tendering procedures ie tendering period; analysis and recommendation period; contract and pre-start period; commencing the works.

Question 17

What is a Collateral Warranty? (get in key words ‘contractual link’)

Answer 17

A ‘contractual link’ allowing a third party to enforce rights within a main contract.

Question 18

What are ‘express terms’ and ‘implied terms’?

Answer 18

Express Terms - Contractual terms explicitly stated within the contract
Implied Terms - Terms derived by law that would be applicable to the contract.

Question 19

What is a Relevant Matter? (get in key phrase ‘materially affects progress’)

Answer 19

Items listed in the contract which ‘materially affect progress’ of the works and allow the contractor to claim for loss and expense.

Question 20

Key lists (docs, packs, claims, etc)?

Answer 20

Refer to separate flashcard deck