With an increase in quantities, the unit price drops due to: Reduced contribution of fixed costs Economies of scale Efficiency improvements Unit price increases when quantities increase You are a project manager and have just discovered a risk in your project which may require an action. During which process in risk management is this action performed? Plan Risk Management Control Risks Perform Qualitative Risk Analysis Identify Risks Why are standard contract forms preferred in construction projects? Elimination of lawyer fees Easier to understand Have been tested by the courts Are inexpensive to purchase

Q: What are the three degrees of accuracy that are acknowledged in capital cost estimation?

A: Here is the explanation of the three degrees of accuracy that are acknowledged in capital cost…

Q: What means are available to a contractor bidding a unit-price project for recovery of “General…

A: Front loading bids, unbalancing bids to retrieve mobilization costs. Owners set lump sum amounts for…

Q: What are the side effects of change orders on the  the contractor's cost?

A: The nature of construction projects is complex and unpredictable, where lots of factors and…

Q: Discuss overlap and underlap of subcontracted work and the problems associated with each condition.

A: It is very important that all of the project work must be completed, examined, and executed by…

Q: Answer these civil Engineering Questions with a good understanding.  What are the benefits of using…

A: Solution :  1. In the case of Construction Manager At Risk contract format (CMAR), the construction…

Q: Explain how an estimate is priced in two phases

A: Introduction: Estimated pricing is defined as an approximation of the project's cost. The…

Q: Why is the contractor asked to base the quality of a product upon a sample that is placed on display…

A: The contractor asked to base the quality of a product upon a sample that is placed on display during…

Q: Is it a good idea to utilize cost-loaded CPM for contractor progress payments on unit-price…

A: The cost-loaded schedule comprises the works that have been ordered and spread throughout the…

Q: 3. Negotiations is one of the methods for tendering procedures in selecting the main contractor to…

A:

Q: Define the term Instant contract savings?

A: Instant contract saving:

Q: true/ false 19) Debt financing has the lowest risk for investors. 20) On average, design consumes…

A:

Q: Question 14: What is a key characteristic of the preconstruction stage? o walkdown of the site o…

A: 14)  procurement  15) False  The wrong judged prices will be equally shared by both contractor and…

Q: Why does the contractor not want to make a commitment to unit -price amounts?

A: In Unit price amount contract, it is a commitment by the contractor to fix the rates of each and…

Q: Q: Contract variations have a huge possibility of occurrence to any construction project. Explain…

A: Almost all construction project can experience variations from its initial planning at any stage of…

Q: What are the basics of risk management and uncertainty? Why is it important to understand these…

A: Letus understand what is mean by the risk Risk : risk is accompanied by potential loss Where…

Q: How can the Disputes be solved in risk management?

A: Risk management is important for preventing legal disputes.

Q: You should have picked up that companies that employ this message need cost recorded to generate…

A: Invoicing and Billing it is an important document that indicates the sale supply to the site. It…

Q: What would be the result of failure to agree on change order pricing?

A: A change order is a work that has been removed or attached to the original contract of work, but…