This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Explain the difference between unit price and lump sum contracts? What will be an ideal ... (Read 79 times)

bio_gurl

  • Hero Member
  • *****
  • Posts: 524
on: Jul 26, 2018
Explain the difference between unit price and lump sum contracts?
 
  What will be an ideal response?

Question 2

Why is it important to have accurate baselines before a project starts and what establishes the baselines?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

ricroger

  • Sr. Member
  • ****
  • Posts: 352
Reply #1 on: Jul 26, 2018
Answer to Question 1

Unit price contracts provide an estimated cost for each designated unit that includes the labor, materials, equipment, overhead, and profit for each particular unit of work. Lump sum contracts provide one estimated price to build a construction project but they could also include unit prices for each major work item.

Answer to Question 2

Baselines are established by the construction estimate that is developed by contractors. It is important to have accurate baselines because the progress of a project and progress payments are measured against the original baseline estimates and schedules.


bio_gurl

  • Member
  • Posts: 524
Reply 2 on: Jul 26, 2018
Gracias!

matt95

  • Member
  • Posts: 317
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

The heart is located in the center of the chest, with part of it tipped slightly so that it taps against the left side of the chest.

Did you know?

Human kidneys will clean about 1 million gallons of blood in an average lifetime.

Did you know?

The Romans did not use numerals to indicate fractions but instead used words to indicate parts of a whole.

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

Limit intake of red meat and dairy products made with whole milk. Choose skim milk, low-fat or fat-free dairy products. Limit fried food. Use healthy oils when cooking.

Comparison of breast cancer and fibrocystic disease. (A) Breast with a malignant tumor growing in th Comparison of breast cancer and fibrocystic disease. (A) Breast with a malignant tumor growing in th
Inverse Relation Between IQ and Disease. Could this explain the Flynn effect? Inverse Relation Between IQ and Disease. Could this explain the Flynn effect?
A typical oil pressure sending unit on a Ford V-8. A typical oil pressure sending unit on a Ford V-8.
Using the voltmeter leads from a starting and charging test unit to measure the voltage drop ... Using the voltmeter leads from a starting and charging test unit to measure the voltage drop ...
If P(θ) = (√3 /2, -1/ 2), determine the coordinates of P (θ + 90 °) using the unit circle If P(θ) = (√3 /2, -1/ 2), determine the coordinates of P (θ + 90 °) using the unit circle
If P(x,- 3/7) on the unit circle,x can be written as ± r sqrt s / t , r is ≠ 1. The value of ... If P(x,- 3/7) on the unit circle,x can be written as ± r sqrt s / t , r is ≠ 1. The value of ...
Video: System organization - PPM system types (Somatic, Autonomic & Enteric) and Reflex arc types

For a complete list of videos, visit our video library