Project Finance - Level 1

Question 1

How do you ensure effective cost control of construction projects during the construction phase?

Question 2

What are the differences between cost reporting & cost management?

Question 3

What are the advantages the employer gets through cost reporting at the end of a project?

Question 4

Are cost monitoring and cost control the same thing?

Question 5

What is being controlled in cost control?

Question 6

What items should be included in the cost report of a single stage traditional procurement route project?

Question 7

How will you establish a change control strategy in a project?

Question 8

What are the sources of information in preparing a CVR?

Question 9

How is the cash flow for a client calculated?

Question 10

How is the pre-tender cash flow forecast for the contractor prepared?

Question 11

How would you establish a cost reporting protocol?

Question 12

Explain your understanding of cash flow forecasting and monitoring?

Question 13

How would you implement change control procedures within a contract?

Question 14

How would you establish reporting regimes / protocol?

Question 15

How would you use risk management and analysis techniques while preparing a budget?

Question 16

How would you control cost effectively during the construction phase of the project?

Question 17

What is meant by design risk?

Question 18

What are the principles of contingencies and risk allowances?

Question 19

How would you use cash flow in financial management?

Question 20

What are the change control procedures in a contract?

Question 21

What are the key principles of controlling and reporting costs on any construction project?

Question 22

What legal and contractual constraints are you aware of?

Question 23

How do time and quality affect the cost of a project?

Question 24

What building legislation affects cost control?

Question 25

How can design risk be allocated?

Question 26

Tell me about your understanding of reporting and forecasting of costs during the construction phase.

Question 27

What are the principles of risk allowances?

Question 28

What is the importance of project financial controls during a construction project?

Question 29

Give two techniques that can be used in project control.

Question 30

What is your understanding of earned value management?

Question 31

What is your understanding of cost value reconciliation?

Question 32

Explain the concept of forecast cost to complete.

Question 33

What is your understanding of outturn cost?

Question 34

Explain the importance of cost estimate in project financial reporting.

Question 35

What is your understanding of contingencies?

Question 36

What is your understanding of risk allowance?

Question 37

What is the purpose of cost value reconciliation to a company?

Question 38

How often CVR is usually carried out?

Question 39

What is your understanding value during the CVR process?

Question 40

What is your understanding of the accrual principle during financial reporting?

Question 41

Explain whether cost and value should be taken at the same time. If yes why is this? If no why is this?

Question 42

What do you understand by subcontract liability?

Question 43

What are contra charges?

Question 44

What is your understanding of the term ‘value’ during financial reporting?

Question 45

What is your understanding of the term earned value?

Question 46

What is your understanding of the term certified value?

Question 47

What do you understand by an over-measure during financial reporting?

Question 48

What do you understand by under-measure during financial reporting?

Question 49

What is your understanding of a cash flow forecast?

Question 50

What are the key components that are needed to develop a cash flow forecast for a construction project?

Question 51

What RICS guidance relates to change control and management?

Question 52

When was it last updated and what changes were made?

Question 53

What are the key principles of this Professional Standard?

Question 54

What is the role of a cost report in managing project financials?

Question 55

What is the importance of a cashflow?

Question 56

What allowances are required for changes to the building safety regulations?

Question 57

How are contingencies developed? - How are these managed through the stages of a project?