Project Finance L1 Flashcards
Project Finance L1
How do you ensure effective cost control of construction projects during the construction phase?
A
What are the differences between cost reporting & cost management?
A
What are the advantages the employer gets through cost reporting at the end of a project?
A
Are cost monitoring and cost control the same thing?
A
What is being controlled in cost control?
A
What items should be included in the cost report of a single stage traditional procurement route project?
A
How will you establish a change control strategy in a project?
A
What are the sources of information in preparing a CVR?
A
How is the cash flow for a client calculated?
A
How is the pre-tender cash flow forecast for the contractor prepared?
A
How would you establish a cost reporting protocol?
A
Explain your understanding of cash flow forecasting and monitoring?
A
How would you implement change control procedures within a contract?
A
How would you establish reporting regimes / protocol?
A
How would you use risk management and analysis techniques while preparing a budget?
A
How would you control cost effectively during the construction phase of the project?
A
What is meant by design risk?
A
What are the principles of contingencies and risk allowances?
A
How would you use cash flow in financial management?
A
What are the change control procedures in a contract?
A
What are the key principles of controlling and reporting costs on any construction project?
A
What legal and contractual constraints are you aware of?
A
How do time and quality affect the cost of a project?
A
What building legislation affects cost control?
A
How can design risk be allocated?
A
Tell me about your understanding of reporting and forecasting of costs during the construction phase.
A
What are the principles of risk allowances?
A
What is the importance of project financial controls during a construction project?
A
Give two techniques that can be used in project control.
A
What is your understanding of earned value management?
A
What is your understanding of cost value reconciliation?
A
Explain the concept of forecast cost to complete.
A
What is your understanding of outturn cost?
A
Explain the importance of cost estimate in project financial reporting.
A
What is your understanding of contingencies?
A
What is your understanding of risk allowance?
A
What is the purpose of cost value reconciliation to a company?
A
How often CVR is usually carried out?
A
What is your understanding value during the CVR process?
A
What is your understanding of the accrual principle during financial reporting?
A
Explain whether cost and value should be taken at the same time. If yes why is this? If no why is this?
A
What do you understand by subcontract liability?
A
What are contra charges?
A
What is your understanding of the term ‘value’ during financial reporting?
A
What is your understanding of the term earned value?
A
What is your understanding of the term certified value?
A
What do you understand by an over-measure during financial reporting?
A
What do you understand by under-measure during financial reporting?
A
What is your understanding of a cash flow forecast?
A
What are the key components that are needed to develop a cash flow forecast for a construction project?
A
What RICS guidance relates to change control and management?
A
When was it last updated and what changes were made?
A
What are the key principles of this Professional Standard?
A
