Question

please answer

3. In a pure construction management approach the construction manager usually guarantees the overall price of the project _True False 4. In a guaranteed maximum price (GMP) contract, costs above the GMP are covered by the contractor. _True False 5. A unit-price contract provides an owner with price competition while still allowing for an increase or decrease in actual versus estimated quantities. True - False 6. When assessing the risks applicable to a project, one must also look to the owner organization and the way decision making occurs. _True False 7. The choice of which delivery method is correct is a factor of perceived risk. Which of the following is a source of project risk? Financial concerns b. Quality of the materials or workmanship c. When the project will be completed d. Quality of design e. All of the above 8. Historically, a "master builder" was hired to build a project. Today, the same approach would be most like which delivery method? a. Design/Bid/Build with a lump sum bid b. Design/Bid/Build with a GMP c. Construction project management d. Design/Build e. Unit-price contract 9. A project is rushed into design without a total understanding of the owner's needs. As the project moves through the design, additional requirements are added, increasing the project budget. 'This is an example of a. Project acceleration b. Fast tracking C. Scope creep d. Separated functions e. None of the above 10. In which of the following project approaches is owner oversight most difficult to apply?

Answer 1

3) Solution: False

Explanation: In a pure construction management approach, the selected subcontractor would be signing the contract with the owner

　

4) Solution: True

Explanation: The costs over the guaranteed maximum price will be borne by the contractor

　

5) Solution: True

Explanation: The unit-price contract gives an owner with price competition and also permits for a rise or falls in actual versus estimated quantities

　

6) Solution: True

Explanation: While assessing the risks associated to a project, it must consider the owner organization and the way making of decision occurs

As per policy we have to answer first four parts