Construction Management Study Guide

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Across
  1. 5. This type of ‘Bid Rigging’ AKA ‘cover bidding’ or ‘courtesy bidding’, occurs where bidders bid an amount too high or contains conditions they know are unacceptable to the agency calling the bids
  2. 6. Risk This is the property insurance for the building, while it is under construction (Ex. fire, water, explosion, vandalism and theft)
  3. 7. End Loading Putting a value on an item in excess of the actual/planned cost. (Ex. Estimate Clearing & Grubbing $100K + Landscaping $100K; Submitted Clearing & Grubbing $150K + Landscaping $50K)
  4. 9. A change made in the documents during the bidding phase, before the contract is awarded
  5. 11. This bond guarantees the contractor will pay all bills
  6. 12. This type of specification is very nonrestrictive allowing for a wide number of choices
  7. 13. This type of ‘Bid Rigging’, occurs when bidders take turns being the designated successful bidder
  8. 14. A process to verify that the ‘Bidder’, if selected will have both the resources and expertise to successfully perform the work
  9. 19. This type of specification has the exact product or method specified to ensure a preferred product is used (Ex. Provide a Lithonia model 2549378 light fixture)
  10. 23. This type of ‘Bid Rigging', occurs where conspirators agree not to submit bids, or submit ‘cover’ bids that are intended not to be successful, on the condition that the winner bidder will ‘share the spoils’ amonst all of them via subcontracted work.
  11. 25. In Time This type of ‘Bid Rigging’, is where sub/vendor submits a bid at the last minute, preventing the general contractor from ‘shopping’ the price, accuracy, or completeness of the bid
  12. 26. Hourly wages, materials, equipment, and subcontractors are all examples of this type of project cost?
  13. 29. This type of auction, Illegal in PA, whereas the buyer posts the project online and receives anonymous online bids, to help drive down the contractor’s costs
Down
  1. 1. A price request for substituting one material for another, or when adding or deducting from the original scope of work
  2. 2. The main reason for ____ bidders is when bids are received, the lowest ‘responsible’ bidder can be selected. The ‘lowest cost’ bid might not be the ‘best’
  3. 3. This type of ‘Bid Rigging’, occurs where conspirators agree not to submit a bid, so that another can win the contract
  4. 4. Levels Consisting of 6 Levels: #1 The Project, #2 Project Components, #3 Construction Phases, #4 Construction Elements/Components, #5 Detailed Tasks/Activities, #6 Work Packages
  5. 8. Bonding This is the ‘maximum’ dollar value of uncompleted work the surety will allow the contractor to have ongoing
  6. 10. This type of descriptive specification, in which the contractor follows and the owner takes responsibility (Ex. Provide a 4” concrete slab)
  7. 15. A program supposed to ensure a ‘level playing field’ and foster equal opportunity in government funded contracts with small business concerns, which are owned and controlled by socially and economically disadvantaged individuals
  8. 16. This type of specification, identifies expectations that the contractor determines than how to meet (Ex. 4”concrete slab at 3000 psi strength)
  9. 17. This law relates to relationships with competitors and is the single most dangerous area for contractors to know what’s permitted, forbidden, or gray
  10. 18. Liability This is the insurance that provides protection for 3rd party claims injuries to non-workers even after completion.
  11. 20. Bid ____ occurs, after a contract award, when a sub, vendor, or general contractor coaxes the company with the lowest bid to reveal their price with the intent of modifying their own price to increase their profit
  12. 21. Cleanup, field trailers, insurance, permits, and office supplies are all examples of this type of project cost?
  13. 22. Compensation This is the insurance that covers disability and medical insurance for the workforce
  14. 24. Shopping This occurs when a contractor, sub, vendor bid is revealed to their competitors in order to get them to submit a lower bid
  15. 27. Bond An ‘instrument’ under which one party guarantees to another, that a 3rd will perform a contract
  16. 28. This is the % that is added to the estimated direct costs of a project and it includes ‘Overhead’ and ‘Profit’