AK General Contractor flashcards

32 cards. Read the term and the definition here. The deck at the top of this page is optional.

Working capital

Current assets minus current liabilities. It measures whether a contractor can pay short-term obligations such as payroll and supplier invoices while waiting for progress payments.

Retainage

A percentage withheld from each progress payment until completion. It is a receivable asset to the contractor, not lost revenue, and is released per contract terms.

Contribution margin ratio

Revenue minus variable costs, divided by revenue. Dividing fixed overhead by this ratio yields the break-even revenue volume for the company.

Underbilling

The excess of earned revenue over billings to date. It represents cash the contractor has earned but not yet invoiced, tying up working capital.

Substantial completion

The stage when work is sufficiently complete for the owner's intended use. It typically starts warranty periods and can trigger retainage release.

Mechanics lien

A statutory claim against real property for unpaid labor or materials. It must be recorded within a statutory period and usually requires prior notice.

Change order

A written modification signed by the owner adjusting scope, price, or time. Work outside contract scope should not proceed without one.

Differing site conditions

A contract clause allowing price or time adjustment when actual site conditions differ materially from those shown or reasonably anticipated in the documents.

Board foot

A lumber volume unit equal to thickness in inches times width in inches times length in feet, divided by twelve, calculated per piece.

Waste factor

A percentage added to net takeoff quantities to cover cutting, breakage, and offcuts. Common allowances are five to ten percent for framing lumber.

Unit price bid

A bid where the stated price per unit governs payment regardless of estimated quantity. Used where quantities are uncertain.

Crew production rate

The quantity of work a crew installs per labor hour. Dividing takeoff quantity by this rate gives required labor hours for the cost estimate.

Critical path

The longest duration sequence of dependent activities through a schedule network. Its total float is zero, so delay on it delays project completion.

Total float

The amount of time an activity can be delayed without delaying project completion. Calculated as late start minus early start, or late finish minus early finish.

Fast-tracking

Overlapping activities that were planned sequentially to shorten duration. It increases coordination risk and rework potential compared with normal sequencing.

Schedule variance

Earned value minus planned value. A negative result means less work was accomplished than scheduled at the data date.

Soil swell

The increase in volume when excavated bank soil is loosened for hauling. Truck loads are computed on the larger loose volume, not the in-place volume.

Proctor test

A laboratory test establishing maximum dry density and optimum moisture content for a soil. Field compaction is specified as a percentage of that density.

Frost line

The depth to which soil freezes seasonally. Footings must bear below it, or be frost-protected, to prevent frost heave movement.

Competent person

An individual capable of identifying existing and predictable hazards and authorized to take prompt corrective action, including daily excavation inspections.

Water-cement ratio

The mass of water divided by mass of cementitious material in a mix. Lowering it increases strength and reduces permeability and shrinkage cracking.

Slump test

A field test measuring concrete consistency by the settlement of a molded cone. It verifies workability against the approved mix design.

Rebar cover

The concrete thickness between the steel surface and the exterior face. It protects bars from corrosion and provides fire resistance.

Nominal versus actual lumber

Nominal size is the rough name; actual size is smaller after surfacing. A nominal two-by-four measures one and one-half by three and one-half inches.

Rough opening

The framed opening in a wall, sized larger than the finished door or window unit to allow for shimming, squaring, and adjustment during installation.

Deflection limit

A span-to-deflection ratio such as L/360 that caps how much a member may bend under load. It governs allowable joist and beam spans.

Roof slope factor

The multiplier converting plan area to sloped roof area, equal to the square root of rise squared plus run squared, divided by run.

Ice dam membrane

A self-adhering waterproof underlayment installed at roof eaves in cold climates, extending from the edge to a point inside the interior wall line.

Vapor retarder placement

In cold climates the vapor retarder goes on the warm side of the insulation, typically the interior face, to limit moisture entering the assembly.

GFCI protection

Ground-fault circuit interrupter protection required in bathrooms, kitchens, outdoors, and other wet locations to prevent shock from ground faults.

Drain slope

Gravity drainage requires a uniform fall on horizontal drain pipe, commonly one-quarter inch per foot for pipe three inches and smaller.

Fall protection threshold

In construction, fall protection such as guardrails, nets, or personal fall arrest is required at working heights of six feet or more.