Resource management part2 Flashcards
A________ project management in construction must be vigorously pursue the efficient utilization of labor, material and equipment
good
the use of __________ and ________ has made possible wholesale changes in construction technologies in recent decades.
new equipment
innovative methods
the selection of the appropriate _______ and _______ of construction equipment often affects the required amount of time and effort and thus the job-site productivity of a project.
type
size
TRUE OR FALSE
it is important for site managers and construction planners to be familiar with the characteristics of the major types of equipment most commonly used in construction
TRUE
what are the types of equipment?
- heavy equipment
- cranes
- commercial and residential construction equipment
- light equipment
example of heavy equipments
excavator
dump truck
bulldozer
grader
wheel tractor scraper
compactor
example of cranes
hammer-head crane
luffing tower crane
mobile crane
mobile crane with crawler
boom truck
example of commercial and residential construction equipment
forklift
pickup trucks
flatbed trucks
backhoe
scissor lift
scaffolding
example of light equipments
surveying equipment
compressor
welding machine
generator
concrete vibrator
troweling machine
contractors that own and operate their own construction equipment endeavor to keep that equipment busy on jobsites whenever possible
internally owned
these types of contractors are heavily leveraged and purchase equipment through the use of long-term loans which require significant monthly payments.
internally owned
TRUE OR FALSE
many construction companies choose to own their own equipment but rather setup separate equipment companies or separate divisions, which own the equipment
FALSE
These separate companies are formed as limited liability corporations or LLCs and will have a different name from the construction company
contractor equipment companies
the contractors can obtain bids from outside sources and negotiate rental rates and conditions
outside ownership
the equipment is expected to be delivered to the jobsite in perfect condition and is expected to remain that way during the course construction
outside ownership
TRUE OR FALSE
a very important aspect to equipment rental is the management of environmental rental durations.
FALSE (economical)
equipment rental often is accompanied by _________ or __________ and demobilization or pickup charges
mobilization
delivery charges
they should work closely with the superintendent to ensure efficient equipment use
jobsite accountant or cost engineer
it is the most cost-effective way for a general contractor to have equipment on the project is not to rent it at all, either internally or externally, and require all of its subcontractors to provide their own equipment
subcontractor ownership
if contractors own their equipment, either as part of the construction company or through a separate but internally owned equipment company, they will likely operate the equipment with their own forces.
self-operated
if the equipment is rented from an outside supplier, the contractor may operate it with their own operating engineer or they may employ a separate contractor to operate the equipment.
rented and subcontractor-operated
the general contractor will not need to concern itself with choice of equipment operators when subcontractors provide their own equipment
subcontractor provided
the general contractor will still make sure that the subcontractor is utilizing inly qualified equipment operators.
subcontractor provided
many single pieces of equipment are owned and operated by one individual. this is very common with many forms of earthwork equipment including backhoes, track hoes, and dump trucks.
owner-operators
the general contractor will then pay the equipment owner an hourly (or weekly or monthly) rate.
owner-operators
defined as the wear and tear on fixed assets such as real estate, construction equipment, and office furniture.
depreciation
it is an important means of reducing taxes for investors and corporations, which is especially true for construction companies which own equipment
depreciation
only fixed asset can be ___________. This includes buildings, construction equipment, furniture, and office equipment
depreciated
it is the amount you paid when purchasing it, including taxes, transportation, and set-up fees.
cost value
it is the estimated amount you could get for your asset if you were to sell it at the end of its useful life.
salvage value
_________= cost value - (annual depreciation x useful life)
salvage value
it is an estimate of how long you can use an asset for its original purpose before it depreciated fully
equipment lifetime
this value is used for tax purposes and various calculations, mainly when accountants have to determine how much they will write off an depreciation
book value
________ = cost value - (annual depreciation x age)
book value
this technique includes the depreciation of an items value by using the same amount yearly until reaching value
straight line method
________ = (cost value - salvage value) / useful life
depreciation
it is also called the diminishing balance method or book value method
written down value
it adds a depreciation rate to the book value when calculating depreciation, thus registering more costs in the earlier stages than later on.
written down value
it lets you depreciate an asset, based on how much work it does for you, hence the units part of its name
units of production depreciation
it is an accelerated depreciation method that allows you to depreciate less as time goes on, much like the written down value method
sum of the year’s digit depreciation
