Question: 51 8) What is a ? (1) A governed system with by-laws that procures pricing for a defined section of work which specifies the extent

51 8) What is a ? (1) A governed system with
51 8) What is a ? (1) A governed system with by-laws that procures pricing for a defined section of work which specifies the extent of work for that section and the subcontractors will bid to the system in lieu of bidding to the General Contractor directly, 9) If a project requires high degree of flexibility and yet the owner is worried about "runaway" cost, what type of contract would you recommend to the owner? (1) lump sum contract cost plus a fee contract unit price contract guaranteed maximum cost-plus-fee contract 10) Which of the following would NOT be considered as a Direct Cost of Work in Cost-Plus- Fee Contract? (1) Labor costs i DOLL

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