Project Finance - Level 1 Flashcards
How do you ensure effective cost control of construction projects during the construction phase?
What are the differences between cost reporting & cost management?
What are the advantages the employer gets through cost reporting at the end of a project?
Are cost monitoring and cost control the same thing?
What is being controlled in cost control?
What items should be included in the cost report of a single stage traditional procurement route project?
How will you establish a change control strategy in a project?
What are the sources of information in preparing a CVR?
How is the cash flow for a client calculated?
How is the pre-tender cash flow forecast for the contractor prepared?
How would you establish a cost reporting protocol?
Explain your understanding of cash flow forecasting and monitoring?
How would you implement change control procedures within a contract?
How would you establish reporting regimes / protocol?
How would you use risk management and analysis techniques while preparing a budget?
How would you control cost effectively during the construction phase of the project?
What is meant by design risk?
What are the principles of contingencies and risk allowances?
How would you use cash flow in financial management?
What are the change control procedures in a contract?
What are the key principles of controlling and reporting costs on any construction project?
What legal and contractual constraints are you aware of?
How do time and quality affect the cost of a project?
What building legislation affects cost control?
How can design risk be allocated?
Tell me about your understanding of reporting and forecasting of costs during the construction phase.
What are the principles of risk allowances?
What is the importance of project financial controls during a construction project?
Give two techniques that can be used in project control.
What is your understanding of earned value management?
What is your understanding of cost value reconciliation?
Explain the concept of forecast cost to complete.
What is your understanding of outturn cost?
Explain the importance of cost estimate in project financial reporting.
What is your understanding of contingencies?
What is your understanding of risk allowance?
What is the purpose of cost value reconciliation to a company?
How often CVR is usually carried out?
What is your understanding value during the CVR process?
What is your understanding of the accrual principle during financial reporting?
Explain whether cost and value should be taken at the same time. If yes why is this? If no why is this?
What do you understand by subcontract liability?
What are contra charges?
What is your understanding of the term ‘value’ during financial reporting?
What is your understanding of the term earned value?
What is your understanding of the term certified value?
What do you understand by an over-measure during financial reporting?
What do you understand by under-measure during financial reporting?
What is your understanding of a cash flow forecast?
What are the key components that are needed to develop a cash flow forecast for a construction project?
What RICS guidance relates to change control and management?
When was it last updated and what changes were made?
What are the key principles of this Professional Standard?
What is the role of a cost report in managing project financials?
What is the importance of a cashflow?
What allowances are required for changes to the building safety regulations?
How are contingencies developed? - How are these managed through the stages of a project?
