Mandatories

Question 1

Accounting - what is GAAP and what are the principles?

Answer 1

Generally Accepted Accounting Principles.
5 Key Principles:
- regularity - stick to rules/regulations
- consistency - use same standards across financial reporting process
- sincerity - committed to accuracy and impartiality
- Permanence - consistent procedures

Question 2

Accounting - what is a P/L sheet and what is a balance sheet?

Answer 2

Profit and Loss statement: income/expenditure over 12 months. Demonstrates turnover, cost and expenses during that period. Can be used during tenders/PQQs.
Balance sheet: shows assets and liabilities. Understanding of debt and how risky the business is.

Question 3

Client Care - appointment document

Answer 3

1. Purpose - establish T&Cs of the appointment of consultant including their duties/responsibilities and scope.
2. Format - RICS provides a standardised document.
3. Ensure scope of service is CLEARLY defined as to avoid any disputes later.
4. Fees - sets out all fees, incl payment milestones and invoicing requirements
5. Liabilities and insurance - outlines consultants liability and insurance requirements (PI) and dispute resolution processes
6. Termination - sets out grounds for termination
7. Includes any amendments.

Question 4

Client care - how do you know you’re doing a good job for your client?

Answer 4

Ask for feedback consistently - whether via my director or individually
Make sure to review my outputs against agreed brief and client requirements
I developed a stage 1 workshop to sit down with client & relevant stakeholders to identify project drivers, risks of not doing the work, and agree a statement of need.

Question 5

Negotiation - describe a negotiation you’ve been involved in

Answer 5

Contractor using higher rates than agreed on framework. They said they needed to do this because of the type of work. My negotiation tactic was to remind them that this is a framework, and there are other contractors who we can go to with this. They agreed to reduce the rates to standard and reduce the frequency they put in.

Question 6

Dispute Resolution - how do you avoid conflict on your projects?

Answer 6

Clear communication - regular meetings with client, contractor, and stakeholders.
Documentation - clear minutes, version control, document management systems
Systems - document management systems, PMO set up
Collaborative working

Question 7

Adjudication - what is it, how is it different to arbitration?

Answer 7

Adjudication is a dispute resolution process with an independent third party (adjudicator). Binding resolution. Quick, 28 days.

Arbitration - dispute resolution with a third party (arbitrator) more formal.

Differences:
- speed - adjudication faster
- formality - arbitration more formal
- binding nature - easier to challenge adjudication
- scope of decision - arbitrator can cover a wider sphere of issues/disputes
- cost - adjudication less expensive

Question 8

Adjudication processes under the NEC

Answer 8

W1: consensual adjudication
W2: mandatory adjudication based on UK Construction Act

W1 = not subject to construction act, W2 = subject to it

Question 9

What is sustainability?

Answer 9

Meeting the needs of the present without compromising the needs of the future.
Three pillars:
- Environmental
- Social
- Economical

Question 10

Sustainable technology I’ve used

Answer 10

Sliplining - the process of inserting a smaller pipe into a larger one. This is cheaper, less impactful to the customers in the area, and better for the environment as it does not require excavation and transporting material away from site.

Question 11

How can you as a consultant limit your liability in an appointment document?

Answer 11

Net contribution clauses
Limited liability clause