Construction Cost and Time Management Flashcards
7 cards from real CCM practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Construction Cost and Time Management flashcards as text
Which scheduling technique is BEST suited for projects with uncertain activity durations that require probability analysis?
Answer: Program Evaluation and Review Technique (PERT)
PERT uses three-point estimates (optimistic, most likely, pessimistic) to calculate expected durations and quantify schedule uncertainty through probability analysis.
A contractor submits a claim for additional costs due to an owner-directed change. The Construction Manager should evaluate the claim using which primary method?
Answer: Measured mile analysis
Measured mile analysis compares productivity on unimpacted work periods to impacted periods, providing a direct, defensible measure of disruption costs.
In a cost-loaded schedule, what does the S-curve represent?
Answer: Cumulative planned versus actual cost expenditure over time
An S-curve plots cumulative planned and actual costs over the project timeline, creating an S-shape that reflects slow spending at start and finish with peak spending in the middle.
What is the Schedule Variance (SV) when Earned Value (EV) = $400,000 and Planned Value (PV) = $500,000?
Answer: -$100,000 (behind schedule)
SV = EV − PV = $400,000 − $500,000 = −$100,000, indicating the project has earned less value than planned and is behind schedule.
A Construction Manager needs to compress the project schedule without changing the project scope. Which technique involves adding resources to critical path activities?
Answer: Crashing
Crashing adds resources (labor, equipment) to critical path activities to shorten their duration, typically increasing cost in exchange for time savings.
Which type of cost estimate is typically prepared during the conceptual design phase with an accuracy range of -30% to +50%?
Answer: Order-of-magnitude estimate
An order-of-magnitude estimate, prepared during conceptual design using minimal project information, typically has an accuracy range of −30% to +50%.
Under the Earned Value Management system, what does a Cost Performance Index (CPI) of 0.85 indicate?
Answer: For every dollar spent, only $0.85 of value is being earned
CPI = EV/AC; a CPI of 0.85 means the project is getting only $0.85 of earned value for every $1.00 actually spent, indicating a cost overrun.