CM Meeting - July 22024

The pre-tender stage of construction requires:

• Site selection

• Procurement Strategy

• Acquisition of land

• All the above

Free float on a schedule is equal to:

• Latest allowable event occurrence time + Early finish time

• Earliest event occurrence time - Early finish time

• Latest allowable event occurrence time - Early finish time

• Earliest event occurrence time + Early finish time

What is the primary role of Turner & Townsend in construction projects?

• Design and Architecture

• Project Management

• Engineering Services

• Cost Commercial Management and Project Management

Which of the following is a key component of Cost Management?

• Cost Estimation

• Resource Management

• Risk Management

• Schedule Optimization

What is the fundamental principle of Cost Management?

• Encouraging schedule delays

• Reducing project scope

• Maximizing profit at all costs

• Delivering projects within the agreed budget

Which Cost Management tool is used to forecast future project costs based on current data?

• Critical Path Method (CPM)

• Work Breakdown Structure (WBS)

• Earned Value Management (EVM)

• Risk Register

What is typically assessed in a cost-benefit analysis?

• Total project duration

• Feasibility of project financing

• Evaluating the potential costs and benefits of a project or decision before committing to it

• Skills required for project execution

What standard cost management practice involves comparing current project costs against a baseline?

• Budgeting

• Variance Analysis

• Forecasting

• Cost Allocation

What is the primary objective of cost reporting?

• Delay financial decisions

• Manage resources

• Provide stakeholders with a holistic view of project expenditures

• Monitor risk

What does value engineering involve?

• Reducing project team

• Cutting project costs and compromising quality

• Increase project scope

• Cutting project costs without compromising quality