FCICA CIM flashcards
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32 cards. Read the term and the definition here. The deck at the top of this page is optional.
- Labor cost formula
- Labor cost equals quantity of work divided by crew productivity rate, multiplied by crew hourly cost including burden. Productivity must match the estimate basis.
- Waste factor
- A percentage added to net material quantity to account for cutting, breakage, and handling loss. It is an estimate assumption that must be documented and tracked.
- Cost code structure
- The work breakdown structure from the estimate used to track actual costs. Every estimate line must map to a cost code for budget vs. actual comparison.
- Contingency
- A risk allowance in the estimate for unknown conditions. It is not a spending account; use requires a change order or management approval.
- Critical path method
- A scheduling technique identifying the longest path of dependent activities with zero float. Any delay on this path delays project completion.
- Look-ahead schedule
- A short-interval schedule covering typically three to six weeks. It converts the master schedule into weekly work assignments and material call-offs.
- Site logistics plan
- A plan defining laydown areas, access routes, temporary utilities, and material staging. It prevents rehandling and improves safety and efficiency.
- Baseline schedule
- The approved project schedule against which progress is measured. Revisions require formal updates and owner acceptance to remain valid.
- Change order
- A written instrument signed by owner and contractor that modifies contract scope, price, or time. Verbal directives are not change orders until confirmed in writing.
- Notice provision
- A contract clause requiring written notice within a specified number of days for delays, changes, or claims. Failure to comply can waive entitlement.
- Liquidated damages
- A pre-agreed per-day amount for late completion. It must be a reasonable forecast of loss, not a penalty, and is enforceable if reasonable.
- Substantial completion
- The date when work is sufficiently complete for its intended use. It starts warranties, transfers risk of loss, and may release part of retainage.
- Resource leveling
- Adjusting start and finish dates within float to smooth resource peaks. It may change the critical path if float is consumed.
- Crew size calculation
- Required daily output divided by individual productivity, adjusted for site constraints and supervision ratio. Determines labor resource assignment.
- Short-interval schedule
- A daily or weekly work plan assigning specific crews, locations, and quantities. It is the basis for daily cost tracking and progress measurement.
- Span of control
- The number of workers a supervisor can effectively manage, typically eight to twelve depending on task complexity. Exceeding it reduces safety and quality oversight.
- Daily report
- A contemporaneous record of weather, manpower, equipment, deliveries, visitors, and delays. It is primary evidence for claims and schedule impacts.
- Abnormal weather
- Weather conditions beyond the contract allowance that may support a time extension. Must be documented with date, time, and impact.
- RFI
- Request for Information used to resolve field conflicts or ambiguities before installation. Responses become part of the contract documents.
- First-in-place inspection
- A quality control check of initial work before proceeding. Passing it prevents rework and establishes the standard for subsequent work.
- Material receiving
- The process of counting, inspecting, and signing delivery tickets. Discrepancies must be noted on the ticket and reported immediately.
- Inventory control
- A material log tracking quantities received, installed, and on hand. Reorder points prevent stockouts and support reconciliation.
- Just-in-time delivery
- Delivering materials as needed to reduce storage costs. It increases risk of delay, so buffer stock is set based on lead time.
- SDS
- Safety Data Sheet required for hazardous materials. It provides handling, storage, and emergency information and must be accessible on site.
- Field work directive
- A written authorization to proceed with changed work before a formal change order is priced. It must be confirmed and tracked.
- Constructive change
- A change arising from owner actions such as defective specifications or acceleration, without a formal directive. It may be claimed if documented.
- Change order log
- A record tracking number, description, status, and cumulative value of all change orders. It is reconciled monthly against job costs.
- Time impact analysis
- A separate analysis of schedule impact from a change. A change may entitle time extension even if no cost is allowed.
- Cost variance
- Budgeted cost minus actual cost. A negative variance indicates an overrun and requires a corrective action plan.
- CPI
- Cost Performance Index equals earned value divided by actual cost. A value less than one indicates cost inefficiency.
- Estimate at completion
- EAC equals actual cost plus (budget at completion minus earned value) divided by CPI. It forecasts final cost based on current performance.
- Committed cost
- Purchase orders and subcontracts awarded but not yet invoiced. It is added to actual cost to determine total cost to date.