Project Management

WHAT IS A RAG RATING?

• A Risk & Governance Rating to monitor project threats

• A Red/Amber/Green Rating to facilitate risk assessments

• A Risk and Reward assessment when carrying out feasibility studies

What is the Critical Path in a Network Diagram?

• The shortest time in which any of the routes within a network diagram can be completed

• The path through a network diagram that is critical to success of a project

• The longest route to completion through a network diagram

What are the most commonly used Standard Forms of Contract used in the UK?

• JCT and NEC Contracts

• FIDIC and JCT Contracts

• ACA and NEC Contracts

• NEC and FIDIC Contracts

What is Practical Completion under a JCT Contract?

• When all work has been completed and all payments have been made under the contract

• When all payments have been made under the contract

• When all work is completed and the penultimate certificate for payment is due

• When handover has taken place and the Final Certificate has been issued

WHAT ARE INTERIM PAYMENTS UNDER THE JCT CONTRACT?

• Advanced payments that are made whilst the contractor is awaiting their monthly payment

• Payments made before the contractor starts on site

• Payments made following a valuation of work carried out to date prior to Making Good Certification

• Payments certified by a Contract Administrator during all stages of a project

WHAT IS COMMERCIAL RISK?

• Potential losses or disruptions that can arise during the course of a project or for a business

• Risks associated with advertising

• All forms of Project Risk that affect a contractor alone

• Identified and unidentified risks that affect the design stage of a project

WHY WOULD A CONTRACTOR MEASURE KPI'S IN RESPECT OF ACCIDENTS ON THEIR BUILDING PROJECTS?

• To provide statistics for auditors

• To monitor safety on their sites and use the data to improve safety and decrease commercial risk

• To compare their business to similar contractors to prove they are better

WHAT IS THE PURPOSE OF RETENTION IN CONSTRUCTION CONTRACTS?

• To cover the cost of insurance during the project

• To pay for materials delivered to site

• To provide an advance payment to the contractor

• To ensure the contractor completes all work to the required standard before final payment

WHAT DOES A CONTRACTOR'S PROGRAMME SHOW?

• The list of subcontractors involved

• The sequence and timing of construction activities

• The final account statement

• The total cost of the project

WHAT IS A VARIATION UNDER A JCT CONTRACT?

• A type of insurance policy

• A payment made before work starts

• A delay in the project schedule

• A change to the works instructed by the Contract Administrator