1. Have you experienced a successful changeAssume this is a $10 million construction project and $8 million, including fees and other markups, worth of work is in place and has been invoiced. How much retention will have been deducted by the client based upon the following three scenarios? (a) 10% retention rate (b) 5% retention rate (c) 10% retention rate until the project is 50% complete and no further retention held thereafter. management operation and/or an unsuccessful one? Why do you feel this was the case?
2. List three close-out items a cost engineer may be tasked to expedite.
3. If close-out lasts two to three months, what happens to a contractor’s fee?
4. Who on the GC’s team should manage punch list completion and why him or her?
5. When does liability for LDs stop?
6. What is the AHJ looking for when they inspect for the C of O?
7. How long is a standard building warranty?
8. Why does a project owner want surplus finish materials?