Professional Practice (12) Flashcards
Construction Management organizations should provide training to all employees in:
Ethics and standards of practice
Which of the following method of compensation for CM services is INconsistent with the agency CM’s fiduciary relationship to its owner?
Percentage of construction costs
A CM at-Risk’s firm has an obligation to:
Work in the best interest of the owner until the assignment of construction risk
A CM’s response to an owner’s request for qualifications and/or proposal can be incorporated into the agreement between the owner and CM to:
Identify the scope and quality of services the CM is to provide
When the owner assigns risk to the CM, the CM has fiduciary responsibility to:
Its own firm
As an agency CM, the CM bears a limited financial responsibility equal to the:
The scope of services and the fee agreed upon between the owner and the CM
The ethical practice of construction management focuses primarily on the:
Relationship between the CM and clients
When Construction Managers conduct themselves in an unethical manner:
They not only damage their reputation but also, they hurt the profession
Which of the following does NOT constitute unethical behavior for a construction management firm during the administration of a project?
Balancing fees against required resources and scope of services
The role of the CM changes from Agent for the owner to CM at-Risk when:
The CM accepts the performance of construction for a fixed price
The standard of care to which a CM is likely to be held is:
That of other CMs similarly-situated by experience, profession and trade
The Code of Professional Ethics of the Construction Manager states that the CM shall:
Accept assignments for which I am qualified by my education, training, professional experience and technical competence
Which of the following is a contract stipulation that would have the potential for conflict of interest between the owner and an Agency CM?
Offer a low fee and renegotiate with the client once selected as the CM
