OBJ 4.5

Question 1

Typical phase breakdown for architectural services:

Answer 1

Schematic design = 15% Design Development = 15% Construction documents = 35% Bid/negotiation = 5% Construction administration = 30% Programming is an extra service.

Question 2

Four factors that influence project schedules:

Answer 2

1. Size of the project or scope of service 2. Complexity or budget 3. Estimated review time by stakeholders and city 4. Number of people working on the project

Question 3

Typical Project Schedule

Answer 3

Schematic design = 1–2 months Design documentation = 2–6 months Construction documents = 3–7 months Bid/negotiation = 3–6 weeks

Question 4

Fast-Track Schedule

Answer 4

Can reduce the average project time by 10–30%. Beneficial in places where land value is high or there is a time restraint on the project schedule. Construction documents are issued in phases, and construction begins before the design is finished. This schedule requires coordination among architect, contractor, and construction manager. Also requires staged bidding, which may result in multiple contractors.

Question 5

Critical Path

Answer 5

The total project time established by the path with the longest total required time.

Question 6

Critical Activities

Answer 6

Activities along the critical path that display both the starting time of any critical activity and any increase in duration that will delay the completion of the project.

Question 7

Float Path

Answer 7

All paths in the network of a critical path method schedule other than the critical path. This is the difference between the critical path and any other path. It is also a measure of the extra time available for an activity or group of activities, which allows extra time for delays to occur in one or more activities. If this time is not exceeded, there will be no delays in the project’s completion.

Question 8

Construction Management

Answer 8

Activities over and above normal architectural and engineering services conducted during pre-design, design, and construction phases. These contribute to the control of time and cost.

Question 9

Mezzanine Loan

Answer 9

Often used by developers for large projects, it is a loan with variable interest rates that increase substantially near the time that repayment is due.

Question 10

Bridge Loan

Answer 10

Short-term loan used to quickly purchase property or to finance a project that must begin immediately while waiting for another lender to approve a long-term loan.

Question 11

Are site development costs included in the cost of the building?

Answer 11

No, the costs to develop a site are in addition to the cost of the building, and each is a separate line item in a budget.

Question 12

Inflation

Answer 12

Inflation is the general increase of costs of goods and services over time. Since construction projects can take a long time to complete, inflation must be accounted for in a project budget.

Question 13

Financing Fees

Answer 13

These are not included in the construction budget and must be accounted for by the owner as a separate line item in the overall budget.

Question 14

Cost Database

Answer 14

There are several commercially available databases of construction cost information, which is gathered from construction projects across the country and published yearly. This information can be used to estimate the costs of future projects.