SOE Questions Flashcards
What is the Role, significance, and functions of the RICS?
- Highest ethical and technical standards for professionals in land, property and built environment
- Protecting and providing benefits to consumers by enforcing standards and codes of best practice
- Providing expert impartial advice to governments, public and businesses
- Equipping members with leading edge advice, market insight and professional training
- Promoting RICS status and standards as the mark of professionalism
How does a high level of ethics promote trust in client?
- Acting in a trustworthy manner, fulfilling my professional obligations and understanding how my actions will effect others and the environment are all considerations that promote trust in a client
What did completing AssocRICS teach you regarding ethics?
- Provided me with knowledge and skills I use today, such as, critical analysis to assist in decision making
Tell me about when you refused a gift from a Contractor and why you did so?
One instance was during the Christmas period where a Subcontractor asked what I would like from the Company for Christmas, to which I politely declined explaining that I did not feel comfortable receiving a gift from a Subcontractor, especially as I was the commercial lead on their account.
Tell me about when you advised a client on a conflict of interest
During the tendering process on the Norfolk House project, I advised my Senior Commercial Manager that I had a personal relationship with one of the tenderers and recognised that it could be considered as a conflict of interest. My Senior Commercial Manager noted my concern and allowed me to continue under supervision.
Tell me about when you advised a client on recording gifts received
In one instance I was offered gifts by a Subcontractor, which I refused, and advised my line manager on the Subcontractor offering gifts to ensure I maintained professional and transparent.
Tell me about why you issue clear and concise payments, and how you use them to advise clients
When processing payments I issue clear and concise payment certificates to the subcontractors detailing the items that have been certified and why. I do so to ensure both the subcontractor and any other parties with the privilege of viewing such information can understand exactly what has and has not been certified and the reasoning for doing so.
What behaviours must you demonstrate when completing tasks for clients?
- Always ensure my client, or others to whom I have a professional responsibility receive the best possible advice and support
- Acting within my scope of competence
- Being transparent about fees and any other costs
- Communicating with my client in a way that will allow them to make informed decisions
What do you take into consideration when managing project stakeholders/clients?
- Learn about your client and their objectives
- Only act within your level of competence
- Always act in a professional manner
- Always provide a high level of service
- Be transparent
- Be open and honest
What are some of the key requirements identified in the Client Money Handling professional statements?
- Client account requirements
- Appropriate accounting controls
- The information that firms must provide to clients
- How to handle client money including rules for managing any unidentified funds
Why must data presented to clients be reliable, accurate, and representative?
Data must be reliable, accurate and representative to ensure it is obtained from a credible source, it can be backed up by facts and it does not mislead the client
What do you do when establishing scopes to provide a high standard of service?
When establishing scopes of works for my Line Manager I provide a high standard of service by ensuring they are completed accurately, following the specification, and issued within the required time frames. Once complete, we review my scopes to see what improvements can be made, after actioning these improvements, I issue the scopes to the Project Director, Construction Director, and Design Director for review
Tell me about when you carried out local charity work
One example of where I interacted with a local charity, is when I managed the project volunteering programme at Coram Field’s, this involved; liaising with the staff to prevent disruption to their activities, reporting any issues to the groundskeeper and inviting him to inspect works to provide any feedback.
Tell me about a time when you had to provide data to a client
An example of where provided data to a client was through the verification of hours from a labour database before including them in my valuations, so that when I send them onto my Line Manager the hours were reliable, presented in a clear format and within the allotted time frames.
What types of communication are you aware of and what are their benefits?
Oral communication
- phone calls
- meetings
- seminars
Written communication
- emails
- teams messages
- contract documents
Advantages of written
- Can provide complex information via drawings, graphs, etc.
- Record of communication
- Formalise verbal agreements
- Information can be shared to numerous parties
Disadvantages of written
- Not clear if the message has been received or understood
- Language or tone may be misinterpreted
- Harder for people to ask questions
Advantages of oral
- Opportunities to ask questions
- Use of body language
- Tailor to suit the audience
Disadvantages of oral
- No official record
- Cannot be distributed in mass
- Difficult to explain complexities
When must each type of communication be used?
I know when each of these techniques is appropriate to use, depending on the stakeholder I am interacting with. For example, using graphs and charts to provide a visual aid on progress.
Give examples of where you graphs and charts in your career
One example of where I have used graphs and charts in a presentation, is when I provided an update on the procurement progress on my project to the Executive Vice President of Skanska Building.
Tell me when you have negotiated in your career
An example where I frequently negotiate professionally is when agreeing final accounts with a view to reaching a fair and reasonable settlement for both parties.
Give examples where you have presented in your career, what you presented, how you presented the information and to whom
I also present frequently in my current claims management role, presenting claims and evaluating claims received to the CEO of the Project Company, Head of Legal and various Contracts Managers. During these presentations I highlight the strengths and weaknesses of the claims and advise the project team on what I believe to be the required actions going forward.
What did you learn from your Site Management Safety Training Scheme (SMSTS)?
When completing my Site Management Safety Training Scheme (SMSTS) I covered several topics, including relevant legislation, for example, the Health and Safety at Work Act 1974 and the Construction Design Management Regulations 2015, the course helped me to gain an understanding of my role in maintaining the industry safety standards.
Tell me when you apply your Health and Safety knowledge in your day-to-day work?
- Periodic health and safety inspections
- Pre-start meetings
- Procurement
- KPIs
What accounting concepts, formats and requirements are you aware of for preparing company accounts?
- Cash flow forecasts
- Cost Value Reconciliation (CVR)
- Risk registers and allowances
Why must accounting documentation be conducted in accordance with accounting concepts?
When completing accounting documentation, the accounting concepts must be adhered to for several reasons, one reason is that in the event of an audit, the auditor can access a company’s financial stability, another is liquidation or insolvency, and to ensure the company finances are accurate to protect the company from financial reporting errors that could lead to liquidation or insolvency.
How do business planning activities contribute to the achievement of corporate objectives?
Fee and cost reconciliations establish whether a profit is being made, this data is then used in the high-level reports to assess overall business performance and corporate objectives.
What is mediation and when should it be used?
The process by which parties agree to use an independent third-party to facilitate discussions between them with the goal of reaching a settlement.
The power to settle remains with the parties, but the process is led by the mediator
Mediation should be used when negotiations break down between the parties or an independent third-party opinion is required.
Summary:
Encourages coming together and agreement.
Requires mutual agreement.
Can be initiated at any time.
Mediator does not award a winning party.
Process is not binding.
What is adjudication and when should it be used?
Adjudication was developed to allow for construction contract disputes to be resolved faster and more cost-effectively than arbitration and litigation.
28-day period, can be extended to 42 days
Process is binding
No appeal process
Parties jointly liable for costs
Adjudication is used in the event that negotiation and mediation is not effective or not stated in the Contract
What is arbitration and when should it be used?
A lawsuit without court involvement.
Parties agree to submit their dispute to arbitration rather than pursuing a lawsuit in court.
The decision issued by the Arbitrator is legally binding.
Used when negotiations breakdown, mediation is not effective/accepted or stated in the Contractor, and adjudication is not accepted or stated in the Contract.
What is litigation and when should it be used?
Litigation is the commencement of a claim in court.
Courts have inherent jurisdiction to hear any dispute.
The nature, complexity, and value of the dispute will determine which court will hear a particular dispute.
What is your current project’s dispute resolution procedure?
Negotiation, Mediation, Adjudication, Arbitration, Litigation
What is the file-sharing system used on your current project?
My previous project used ForProjects, my current project uses Aconex.
What are the different types of available cost data used?
In-house cost data, Building Cost Information Service (BCIS), and price books, such as Spons
What are the characteristics of an effective team?
To establish an effective team, all members must know each other’s role and what they are working on.
What do you do to ensure you are an effective team member?
I hold monthly package reviews with the operational package managers to ensure that we are working collaboratively to achieve our common goals and resolve any issues.
