ce167f10_Final_v6_Solutions - CE 167: Engineering and...

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CE 167: Engineering and Project Management Professor William Ibbs Fall 2010 General Instructions This exam is to be completed in a bluebook – answers not recorded in a bluebook will not be graded. Place the exam sheets on the inside of your bluebook when finished and hand them in back with the bluebook. Put your name on both your blue book and the exam sheet. Show your work step-by-step. Write legibly, and state any necessary assumptions. If you have a question during any portion of this exam, raise your hand & speak privately to the proctor. Please look through the whole exam before you start Questions: 1. [15 points] Definitions: Define following terms in relation to construction project management: A) Parol Evidence Rule in cases that prevents a party to a written contract from presenting oral evidence that contradicts or adds to the written terms of the contract that appears to be whole. The supporting rationale is that since the contracting parties have reduced their agreement to a single and final writing, the extrinsic evidence of past agreements or terms should not be considered when interpreting that writing, as the parties had decided to ultimately leave them out of the contract. B) Earned Value (% Account Complete)*(Accounts Total Budget) C) Takeover Contractor Contractor hired by surety or owner to resume work on project in the event that the original contractor defaults. Performance bond covers additional costs incurred by hiring a takeover contractor and/or costs associated with delays to the project. D) Project Overdraft The difference between what the contractor has spent vs. payments received from the owner. Cumulative E) Constructive Acceleration Acceleration that is not directed. Example: owner causes a delay to the project that impacts the critical path, but does not grant the contractor an extension of time. 2. [20 points] Short Answer: A) Define the Spearin Doctrine and describe why it is important . 5 Points: Complete, Accurate and Buildable.
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5 Points: Ensures Contractors are covered for designs they are not responsible for. B) For what types of projects is the Spearin Doctrine not applicable? Design Build and Most Private Projects. 3. [20 points] Engineering Economics: A local construction firm is considering investing in newer, more productive forming equipment. You have collected data on the three best options, each of which has a twenty year useful life and no salvage value. A B C Initial Investment $50,000 $22,000 $15,000 Annual Income $6193 $3577 $1993 Annual Costs $1100 $1500 $350 If the MARR for the construction firm is 7%, which alternative should be chosen? Calculate the IRR for that option. All three alternatives pass MARR (A, B and C have IRR of 8%. 7% and 9% respectively), set C as the
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This note was uploaded on 01/06/2012 for the course CIVIL AND 167 taught by Professor Ibbs during the Fall '11 term at University of California, Berkeley.

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ce167f10_Final_v6_Solutions - CE 167: Engineering and...

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