Resource management part2

Question 1

A________ project management in construction must be vigorously pursue the efficient utilization of labor, material and equipment

Answer 1

good

Question 2

the use of __________ and ________ has made possible wholesale changes in construction technologies in recent decades.

Answer 2

new equipment
innovative methods

Question 3

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.

Answer 3

type
size

Question 4

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

Answer 4

TRUE

Question 5

what are the types of equipment?

Answer 5

• heavy equipment
• cranes
• commercial and residential construction equipment
• light equipment

Question 6

example of heavy equipments

Answer 6

excavator
dump truck
bulldozer
grader
wheel tractor scraper
compactor

Question 7

example of cranes

Answer 7

hammer-head crane
luffing tower crane
mobile crane
mobile crane with crawler
boom truck

Question 8

example of commercial and residential construction equipment

Answer 8

forklift
pickup trucks
flatbed trucks
backhoe
scissor lift
scaffolding

Question 9

example of light equipments

Answer 9

surveying equipment
compressor
welding machine
generator
concrete vibrator
troweling machine

Question 10

contractors that own and operate their own construction equipment endeavor to keep that equipment busy on jobsites whenever possible

Answer 10

internally owned

Question 11

these types of contractors are heavily leveraged and purchase equipment through the use of long-term loans which require significant monthly payments.

Answer 11

internally owned

Question 12

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

Answer 12

FALSE

Question 13

These separate companies are formed as limited liability corporations or LLCs and will have a different name from the construction company

Answer 13

contractor equipment companies

Question 14

the contractors can obtain bids from outside sources and negotiate rental rates and conditions

Answer 14

outside ownership

Question 15

the equipment is expected to be delivered to the jobsite in perfect condition and is expected to remain that way during the course construction

Answer 15

outside ownership

Question 16

TRUE OR FALSE
a very important aspect to equipment rental is the management of environmental rental durations.

Answer 16

FALSE (economical)

Question 17

equipment rental often is accompanied by _________ or __________ and demobilization or pickup charges

Answer 17

mobilization
delivery charges

Question 18

they should work closely with the superintendent to ensure efficient equipment use

Answer 18

jobsite accountant or cost engineer

Question 19

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

Answer 19

subcontractor ownership

Question 20

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.

Answer 20

self-operated

Question 21

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.

Answer 21

rented and subcontractor-operated

Question 22

the general contractor will not need to concern itself with choice of equipment operators when subcontractors provide their own equipment

Answer 22

subcontractor provided

Question 23

the general contractor will still make sure that the subcontractor is utilizing inly qualified equipment operators.

Answer 23

subcontractor provided

Question 24

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.

Answer 24

owner-operators

Question 25

the general contractor will then pay the equipment owner an hourly (or weekly or monthly) rate.

Answer 25

owner-operators

Question 26

defined as the wear and tear on fixed assets such as real estate, construction equipment, and office furniture.

Answer 26

depreciation

Question 27

it is an important means of reducing taxes for investors and corporations, which is especially true for construction companies which own equipment

Answer 27

depreciation

Question 28

only fixed asset can be ___________. This includes buildings, construction equipment, furniture, and office equipment

Answer 28

depreciated

Question 29

it is the amount you paid when purchasing it, including taxes, transportation, and set-up fees.

Answer 29

cost value

Question 30

it is the estimated amount you could get for your asset if you were to sell it at the end of its useful life.

Answer 30

salvage value

Question 31

_________= cost value - (annual depreciation x useful life)

Answer 31

salvage value

Question 32

it is an estimate of how long you can use an asset for its original purpose before it depreciated fully

Answer 32

equipment lifetime

Question 33

this value is used for tax purposes and various calculations, mainly when accountants have to determine how much they will write off an depreciation

Answer 33

book value

Question 34

________ = cost value - (annual depreciation x age)

Answer 34

book value

Question 35

this technique includes the depreciation of an items value by using the same amount yearly until reaching value

Answer 35

straight line method

Question 36

________ = (cost value - salvage value) / useful life

Answer 36

depreciation

Question 37

it is also called the diminishing balance method or book value method

Answer 37

written down value

Question 38

it adds a depreciation rate to the book value when calculating depreciation, thus registering more costs in the earlier stages than later on.

Answer 38

written down value

Question 39

it lets you depreciate an asset, based on how much work it does for you, hence the units part of its name

Answer 39

units of production depreciation

Question 40

it is an accelerated depreciation method that allows you to depreciate less as time goes on, much like the written down value method

Answer 40

sum of the year’s digit depreciation