Managing Construction 12

Question 1

What are THE TWO critical factors in a construction company?

Answer 1

FINANCIAL MANAGEMENT AND SCHEDULE MANAGEMENT

Question 2

Most problem projects result from:

Answer 2

poor financial management or poor scheduling. Companies that focus on these two areas consistently make higher than average profits and enjoy superior client satisfaction.

Question 3

In construction, money is made:

Answer 3

In the field. Without exception, superior PMs support the field.

Question 4

A KEY TO SUCCESS is

Answer 4

FOLLOW UP. Loose ends end up in someone else’s lap, and it could be the customer.

Question 5

SIMPLICITY MEANS SPEED. This means:

Answer 5

1. a PRACTICAL approach, NOT a SOPHISTICATED one.

2. Two SIMPLE processes beat an ELEGANT one every time.

Question 6

________________is NOT an option.

Answer 6

MEASUREMENT.

Smart contractors measure events, meaning, BOTH RESULTS (AFTER) AND BEHAVIORS (BEFORE).

Question 7

Approximately 70% of all wasted time is due to:

Answer 7

MATERIAL LOGISTICS

Question 8

Project managers have two areas of responsibility:

Answer 8

DISCREET and FUNCTIONAL

Question 9

What is the DISCREET area of responsibility of a PM?

Answer 9

It is directly related to a construction job.

Question 10

What is the FUNCTIONAL area of responsibility of a PM?

Answer 10

The continuous activities that relate more to the business operation. They can be recruiting, continuous improvement, supervision others, etc.