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Chapter 3 - 13 What are change conditions =>unforeseen...

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Chapter 3 Questionnaire 1) What percentage of project cost can be saved from not doing rework? => 10% 2) How many days does KTR have to withdraw the bid? => 60 days 3) What is the bid acceptance period? =>60 – 90 days 4) What are 2 significant components of NTP? =>notice to proceed, award of contract 5) Is the specified duration in NTP in calendar or working days? => Calendar 6) What is one single document that binds the parties and by reference describes the work to be per- formed for a consideration? =>Contract Agreement 7) Why do contractor request time extensions? =>circumstance beyond his control 8) What constitutes project completion? =>substantial conditions 9) What is BOD? =>beneficial occupancy date 10) What is punch list? =>deficiency list 11) When does the owner accept the facility as complete? =>punch list is done 12) What are change orders? =>alteration to the contract documents
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Unformatted text preview: 13) What are change conditions? =>unforeseen condition of the soil Chapter 3 Questionnaire 14) What is VECP? =>Value Engineering Cost Proposal 15) Can you use VE during design phase? =>Yes 16) Which contract document can you find the clause for suspension, delay or interruption? =>General Conditions 17) What are the consequences of suspension, delay or interruption? => Money 18) What are LDS? => Liquidated damages 19) Are LDS actual damages or punitive damages? =>Actual Damages 20) What are progress payments? =>Periodic Payments 21) What is the purpose of retainage? =>Incentive for the contractor to finish job properly 22) How is progress reported? =>S-Curve, Bar-chart 23) When is the project accepted? =>Punch list is done 24) When is the retainage released? =>after 100 % completion...
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Chapter 3 - 13 What are change conditions =>unforeseen...

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