Quiz Review questinos - COMPLETE

Question 1

top-down method to assigning fees on a work plan

Answer 1

estimate total fee (cost x SF, % const cost, historical cost)
this total fee will include direct/indirect labor, consult fees, reimbursable, contingency
subtract out others to get to remaining fee used for direct labor
allocate to various phases based on %

Question 2

bottom-up method to assigning fees on a work plan

Answer 2

break project up into individual tasks & estimate art of time needed
assign team member & multiply billing rate x hours = total fee

MORE ACCURATE THAN TOP-DOWN

Question 3

According to B101, when & why can the owner terminate the architect?

Answer 3

• can terminate for whatever reason at their convenience
• must give arch 7 days notice to termination
• arch will get paid for all services up to that point + termination expenses + anticipated profit on the value of the services not performed by the arch

Question 4

Appraisal costs

Answer 4

associated with measuring and monitoring activities related to quality
costs associated with suppliers & customer’s evaluation of purchased materials, processes, products, and services to ensure that they conform to specifications
include: verification, quality audit, supplier rating

Question 5

Prevention Cost

Answer 5

incurred to prevent or avoid quality problems associated with design, implementation, maintenance of quality management system
planned & incur by actual operation
include: quality planning, quality assurance, training, product/service requirements

Question 6

Internal failure costs

Answer 6

quality defects discovered BEFORE it reaches the customer
includes: scrapping product, rework to product, lost productivity due to machine break

Question 7

external failure costs

Answer 7

quality defects AFTER sold to customer

Question 8

external failure costs

Answer 8

quality defects AFTER sold to customer
includes: recalls, lawsuits, returns, warranties

Question 9

Surety Bond

Answer 9

contractual agreement between project owner or business guaranteeing that the project will be completed

Question 10

What is land valued?

Answer 10

cost approach
income approach
market approach

Question 11

What is market approach to valuing land?

Answer 11

compares comparable properties

Question 12

what is income approach to valuing land?

Answer 12

value of investment property reflects quality/quantity of income expected to generate

Question 13

what is cost approach to valuing land?

Answer 13

sum of estimated land value + deprecated cost of building

Question 14

What is COQ?

Answer 14

Cost of Quality

Question 15

AIA G802

Answer 15

Amendment to Prof Services Agreement