oo T-Mobile LTE 4:11 PM 51% Done Attachment 1. Competitive Bidding is used for m

Question

oo T-Mobile LTE 4:11 PM 51% Done Attachment 1. Competitive Bidding is used for most of construction projects 2. defines the need for project and obtains financing to get project designed and built. 3. There is no relationship established between the owner and the subcontractor. accounts for 20-25% of new construction annually 5. Owner contracting with single firm for both design and is Ca 6. Small Business Reorganization Act of 1997 require prime contractors to subcontract designated of work. 7. Unit Price contract is common with 8. Cost plus fee contracts are usually negotiated between 9. Bond can be invoked by the owner only if the contractor is in of contract 10. Contract bonds cannot be viewed as substitute for an able, honest, adequately financed 11. Federal Govt. bond is written in compliance with the 12. of the total cost worth changes can take place without the surety's approval 13. Contractor's bonding capacity is a function of its and

Explanation / Answer

1. Competitive bidding is used most of public transport construction project.

2. Project Scope Management defines need for project and obtains financing to get project designed and built.

3. There is no formal relationship established between owner and the subcontractor.

4. Cash accounting accounts for 20-25% of new construction annually.

5. Owner contracting with single firm for both design and construction is called as turnkey firm or company.

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