Obj. 1.1 - Resources with the Practice Flashcards
Indemnification
A legal relationship where one party takes on responsibility for the loss or damage suffered by another party. The AIA contracts contains extensive references to this concept throughout, as the owner, architect, and contractor each indemnify the other in various ways.
Integrated Supply Team (IST)
A type of enterprise resource planning approach employed by an integrated project delivery type
Pre-Construction Meeting
conference at the beginning of construction work where many aspects of construction is discussed, including start-up requirements, site observation processes, submittal procedures, etc.
Prime Consultant
A consultant contracted directly to the client
RFQ
Request For Qualifications: a request issued to a prospective supplier or consultant to demonstrate their ability to meet project requirements
Subconsultant
A consultant who is contracted to another consultant known as the primary consultant.
Subrogation
The substitution of one party for another with regard to the exercise of a legal right. For example, this occurs within the context of insurance claims recovery when an insurer pursues repayment from a third party on behalf of the insured
Work Authorization
An official notice to begin work on a project
Scope of Work
The full agreed-upon extent of what work is to be performed; also typically includes a list of deliverables and their schedule. The project team must be aware of an able to manage how this may change throughout design and construction
Bar Chart (Gnatt Chart)
graphically depicts the sequence and temporal overlap of project tasks or phases
Critical Path Method (CMP)
A scheduling which depicts the necessary tasks in order for completion of a given goal are mapped out so that dependencies and optimal timeframes can be established.
Economy of Scale
The cost savings that can be achieved by increased production of a product
Float
The amount of time a task can be delayed without affecting other tasks or the project end date
CSI MasterFormat
A master list of numbers and titles, classified by work results or construction practices, that is primarily used to organize project manuals and detailed cost information, as well as to relate drawing notations to specifications
Utilization Rate
The percentage of an employee’s time that is billed to clients. Calculated using the formula: (billable time/total time) x 100
Work Plan
A scheduling describing the tasks and milestone dates a person or team must complete on a project.
Reimbursables
Any expense incurred on behalf of the project that, in accord with the contractual agreement, is to be reimbursed by the client. For example, travel and lodging costs associated with site visits
Staffing
the ongoing process of allocating employees to projects
billable rate
the amount charged for labor performed typically by the hour.
Internal budget
A financial plan used by a business to determine staffing and project completion milestones
Discrimination
any unjust or prejudiced treatment direct towards individuals based on race, sex, religion, etc.
Human Resource Management (HRM)
Formal policies, guidelines, and systems that a business employs to address the management of personnel within an office. These responsibilities include hiring, compensation and benefits, promotion, dispute resolution and other aspects of staff development
What are Firm Organization structures
Sole Proprietorship
General Partnership
Limited Partnership
C Corporation
S Corporation
Professional Corporation
Limited Liability Partnership
Limited Liability Corporation
Joint Venture
What are benefits to expanding ownership structure to a partnership or corporation as firm grows?
Increased flexibility to serve clients
Sharing of a particular niche or expertise
Greater capital
Roles must be established for partners and owners
What is a performance appraisal
Takes both negative and positive comments on the personal growth professionally
What are performance appraisal goals?
- Communication of firms goals and priorities
- Clarification of employee’s roles, responsibilities, and expectations
- Encouragement and support between managers and employees
- Identification of training and development
- Annual Goal set up
- Long term professional goals
What are common compensation options for fee calculations after contract signed?
- Lump Sum fixed fees
- Hourly w/no upset based on hourly billing rates
- Hourly w/ a max to not exceed
- Cost plus fixed fees
- Percentage of actual construction cost
