Mock Questions Flashcards
1
Q
On what project would a GMP contract be best suited?
A
- Early cost certainty with incomplete design
- Collaboration between client and contractor
- Complex projects needing flexibility (e.g. healthcare, refurbishment)
- Open book procurement and transparent cost management preferred
2
Q
On what project would a lump sum contract be best suited?
A
- Fully designed and detailed before tender
- Maximum cost certainty and minimal risk transfer
- Simple projects where change is minimal
- Competitive tendering is preferred to achieve best price
3
Q
On what project would an approximate quantity contract be best suited?
A
- Early-stage projects with incomplete design or scope
- Projects with uncertain quantities where early cost certainty is not priority
- Complex or large-scale works (e.g. infrastructure, redevelopment)
- Projects where design evolves during construction but cost control is still needed