CNST.475 Quiz #1

roles of a PM

planning, scheduling, monitoring, & controlling a project

resources in construction

materials, labor, equipment, subs

estimate vs budget

estimate- best guess

budget- builds in all risks & contingencies
need an estimate to build a budget

performance measurement baseline

the way the project would perform if it followed the planned budget & schedule exactly

CV (cost variance)

BCWP - ACWP

CPI (cost performance index)

BCWP/ACWP

SPI (schedule performance index)

BCWP/BCWS

SV (schedule variance)

BCWP - BCWS

importance of Pre-Con planning

identifies goals of project & establishes policies to fulfill them
establishes baseline for cost & schedule control
make communication plan

initiating process

completed by owner & design team
decide project delivery method & goals for project
pre-bid phase

planning process

develop project team
determine time constraints (schedule) & estimate (budget)
determine means, methods, & risk assessment
pre-con phase

executing process

buyout subs
finalize schedule
establish metrics for performance measurements (milestones, productivity)
build
pre-con to construction phase

monitoring & controlling process

update & compare to metrics
monitor cost, time, resources, quality, & analyze variances to baseline
identify & implement corrective actions
construction phase

closing process

develop & complete punchlist
finalize as-built drawings & O&M manuals
final billing

close-out phase

WBS (work breakdown structure)

breaks down activities into smaller more manageable tasks
more detail required at critical stages & tasks leading to milestones

CBS (cost breakdown structure)

breaks down original budget into different cost categories
the closer a CBS & WBS become the easier it is to cost load a schedule

SOV (schedule of values)

breaks contract down into billable values for work

what goes above & below the line?

above- all actual work & materials
below- insurance

frontloading

overbilling beginning activities to be more cash positive at first & use more of owners money & less of own money
unethical but not illegal because it drains cash for costs later in project if mismanaged

purpose of org charts

shows project teams roles, responsibilities, & chain of command

purpose of a communication plan

defines who communicates what, when, how, & to who

purpose of a responsibility matrix

shows who is responsible for each project task & decision

BCWP (budgeted cost work performed)

qty complete / total qty

BCWS (budgeted cost work scheduled)

schedule complete / schedule total

ACWP (actual cost work performed)

($/hr)(hr)