Definitions Flashcards
(24 cards)
What is ethics?
System of moral principles that guides decision-making and behavior, focusing on what is considered morally right or wrong.
What is integrity?
Quality of being honest and having strong moral principles
What is procurement?
Process of obtaining goods and services from external sources
What is tendering?
Bidding process for obtaining the resources necessary to carry out works or services
What is D&B?
A procurement route where there is a single point of contact for design and construction
What is construction management?
Where the employer appoints seperate trade contractors to carry out the works and a constructio manager to oversee the works
What is management contracting?
Where an employer appoints a management contractor to contribute their expertise to design and manage the project.
Management Contractor appoints individual trade packagaes
What is a Relevant Matter?
Employers actions which entitle the Contractor to Loss and/or Expense
What is a Relevant Event?
An instance where the Contractor is entitled to an Extension of Time
What is Assignment?
Transfer of benefits from a contractual party to a third party
What is Novation?
Transfer of benefits and obligations from a contractual party to another
What is NRM1?
Order of Cost Estimating and Cost Planning for Capital Building Works
What is NRM2?
Detailed Measurement for Building Works
What is NRM3?
Order of Cost Estimating and Cost Planning for Building Maintenance Works
What is IPMS?
International Property Measurement Standards
What is communication?
Imparting or exchanging of information by speaking, writing or some other medium
What is negotiation?
Discussion to reach a compromose or agreement
What is a provisional sum?
An allowance or estimate for items not sufficiently detailed/designed, but included in the agreed contract sum
What is an defined provisional sum?
Where programming and prelims have been allowed for
What is an undefined provisional sum?
Where programming and prelims have not been allowed for.
Contractot may be entitled for an EOT / additional prelims where actual works are undertaken
How does NEC deal with provisional sums?
Unamended NEC contracts do not use provisional sums
What are prime cost sums?
An allowance for materials or services that will be provided by a nominated subcontractor or supplier
What should be taken into account when reviewing contractor preliminaries?
Legnth of contract
Type of project (new build, refurb)
Size of project
Requirement for temp works
Method and sequencing of works
Contractor design responsibilities
What is value engineering?
Structured process aimed to maximizing the value of a project through improved design, enhanced function, reduced cost, or reduced whole-life cost
