cmgmt Exam 2

how your office is organized
how flexible administration is
impact of decision making

addressing taxes
up front capital
management and flexibility

profut
acheiving goals
control of business
perform technical functions

legally binding agreement between 2 or more companies
only exists for a fixed time perios

combines resources
increase funding capacity
allocate risk

everything is peronal

easy to start
no legal documents

risky
less ability to raise capital (based on credit score)

agreement between 2 or more partners
Two types:
General partnership (owners have the right of decision making and share profit based on contribution)
Limited partnership (partners have no right of decision making)

shared risk
ability to raise capital

decisions are shared
double taxation

requires documents such as article of incorporation
needs lawyers
must have at least 1 annual formal meeting

npersonal properties/assets are protected
must register a file article of organication from secreatary of state

owner

number of contracts
relationships and roles of each party
the point when contractors get involved
the ability to overlap design and construction
who warrants the sufficency of plans and specs

used by publicly funded projects
2 contracts with owner, design professional and contractor
possible lack of communication
GC is only involved after contract is awarded

closest to master builder
designer and contractor are the same company
multiphase/fast track
overlap design and construction
one contract

two options
CM agency (fee based service for consulting/advising)
CM @ Risk (cm will deliver project with gauranteed minimum price and acts as GC)

integrates all parties into one contract
requires communication and collaboration

weather delays
supply chain delays
poor owner finance
sub bankruptcy
labor shortage
management change
health and safety
payment dispute

amount put in budget for unforseen costs

risk identidication (cause and effect)
risk quantification (monetary impact)
risk response (avoid the risk-mitigate-accept)
risk action (impliment plan)

commonly used for simple projects
commonly used for residential
no relationship between activites

critical path method
late 50s
commonly used for vertical and commercial projects

probability scheduling
1950s
used for polaris missile project
highly technical projects like industrial