FMP - Project Management - Part 01

  1. Accept
    Responding to risk by doing nothing.
  2. Addendum, construction document
    Corrections or revisions made to construction documents after they are sent to bidders but before bidders have officially responded.
  3. Adjacency diagram
    A diagram documenting critical physical proximities of organizational groups, equipment, or support functions.
  4. AIA Contract Documents
    A set of standard contract forms produced by the American Institute of Architects (AIA) for design and construction contracts including the contract administration process. They are generally accepted as fair documents for all parties involved.
  5. Architectural drawings/ Engineering
    A set of technical drawings of a building or engineered item categorized by building trade (e.g., electrical, plumbing) used by architects or engineers to express a design proposal and enable a contractor to proceed with construction.
  6. Architectural scale/ Engineering Scale
    A measurement device used to show how to measure scaled dimensions on scale drawings.
  7. Assignable area
    The portion of a floor or building used to house personnel, furniture and equipment.
  8. Authorization to proceed
    A document issued to initiate a project and commence construction.
  9. Avoid
    Responding to risk by clarifying or changing plans to omit the risk.
  10. Backward pass scheduling
    A scheduling technique that begins with a fixed completion date and arranges necessary tasks in order to allow enough time to complete all the project tasks.
  11. Barrier free design
    A facility design that employs multiple design considerations to allow the facility to be fully accessible by persons with disabilities.
  12. Bay
    An area whose boundaries are generally defined by space between four columns (one at each corner).
  13. Bid bond
    A bond or cashier’s check that bidders provide to customers along with a bid for a capital project to prove that the bid is in earnest and the firm has sufficient capital resources and will provide a performance bond if the bid is chosen.
  14. Blocking plan
    Illustration of how multiple groups or departments will fit onto a given floor of a building.
  15. Bond
    A certificate that promises to pay the holder a specified amount of money at some future date.
  16. Bubble diagram
    An adjacency diagram that illustrates primary and secondary adjacencies between major work groups or departments.
  17. Budget at completion
    The planned final cost of a task/project.
  18. Budget variance
    The difference between the budget at completion and estimate at completion.
  19. Build out
    a) A general term referring to the execution phase of a design and construction project including construction, installation of equipment, and connection of utilities; b) The new construction or reconfiguration performed on a tenant’s interior space.
  20. Building information modeling
    A modeling process and technology for producing comprehensive, measurable, three-dimensional virtual models of buildings to aid in construction and all later phases of a facility’s life cycle.
  21. Building standard
    Owner/landlord determined baseline for type and quality of materials and finishes to be used in their building and provided as part of base rent paid by the tenant (usually stipulated as an allowance per square meter (square foot)).
  22. Building standard finishes
    Finishes provided periodically by a landlord to a tenant as part of the tenant’s base rent.
  23. Build-to-suit
    A form of delayed ownership for real estate in which an organization has the developer retain ownership until the construction project is complete and the facility is ready for occupancy.
  24. Capital
    The amount of money in circulation, the speed with which money circulates or is redistributed throughout the economy, and its price and availability.
  25. Certificate of insurance
    A document from the insurance company that verifies insurance coverage for contractors on larger jobs.
  26. Certificate of occupancy/Certificate of beneficial occupancy
    A formal document often required by the local building codes as the final step to closeout of construction to allow for occupancy of the facility.
  27. Change order
    The written document signed by the contractor, designer and owner that allows for changes involving cost and time.
  28. Churn
    The amount of movement and relocation of occupants within an organization within a specified period. It is the ratio of the number of employees moved annually compared to the total number of employees in an organization.
  29. Circulation factor
    A percentage added to work space to allow for circulation patterns of persons or goods in usable space.
  30. Commissioning
    The process of evaluating, verifying, and documenting the performance of facility systems, subsystems, components, operations (and maintenance procedures) to assure that they function to the intent of the design and efficiently as a system.
  31. Common area/Common support area/Building core/Service Area
    Area with common access to all users within a gross space (e.g., public corridors, primary circulation, lobbies, rest rooms, mechanical or utility rooms, and vestibules.
  32. Common area factor (rentable/usable ratio)/Core factor/Loss factor/Loss factor area
    The factor used to determine a tenant’s pro rata share of the common area.
  33. Completion date
    A clearly defined date when the project is 100 percent complete including all of the punch list items.
  34. Computer aided design and drafting
    Computerized drafting software that can manage space, furniture, and equipment, as well as produce drawings.
  35. Computer assisted facility management (CAFM) 
    A software system that provides web-based, real-time access to vital information such as a statistics on holdings, space utilization, lease information and best practices; capabilities for work order processing, preventive maintenance records, move management, emergency planning, etc. It commonly contains CAD, work management, project management, and asset management systems.
  36. Construction agreement
    A written contract between an owner and the general contractor detailing the terms to which the parties agree. The agreement details the deliverable (what is to be built), the compensation, the timeframe, and other factors typical of a legally binding contract.
  37. Construction drawing
    Scaled architectural or engineering drawings that include notations on the work required and the materials to be used, showing how to proceed with construction.
  38. Contract
    A written or oral agreement that creates an obligation between two or more parties and defines the details of that obligation.
  39. Contract time
    The period of time set forth for completion of construction.
  40. Core and service area/Common area/
    Common support area/Core Area
    The area with common access (or benefit) to all users within a gross space (e.g., public corridors, rest rooms, mechanical or utility rooms, and vestibules).
  41. Core and service area factor
    (rentable/usable ratio)
    The factor used to determine a tenant’s pro rata share of the core and service area.
  42. Cost variance
    The amount of money a task is over or under budget.
  43. Cover letter/Insurance binder
    Temporary evidence of insurance.
  44. Critical path
    The longest set of sequential tasks in a project, which is the shortest possible planned project duration.
  45. Critical path scheduling
    A scheduling technique that is based on identifying predecessors and timeframes. Each process that requires a previous process to be completed before the new one can begin is entered in a time schedule so that the minimum time for overall project completion can be determined.
  46. Dead end corridor
    A corridor with only one way in or out.
  47. Demising wall
    A wall between one tenant’s area and another as well as a wall between tenant areas and public corridors.
  48. Design intent drawings
    Scaled drawings that form the basis of construction drawings by showing where all construction elements are to be located but omitting engineering calculations. They can be used in variance comparisons with as-built drawings.
  49. Direct negotiation
    A method for awarding a contract where a single contractor or a small group of selected bidders is subject to negotiation to award the contract.
  50. Elevations
    Drawings of a structure from a single perspective showing entire-structure flat plane projections of all vertical floors and features facing in the given direction.
  51. Errors and omissions insurance
    Insurance purchased by design professionals to transfer to the insurer the cost of liability claims related to errors or omissions in design and construction documents.
  52. Estimate at completion
    A forecast of the final cost of a task/project using the most current data.
  53. Fast tracking
    A process of concurrently performing as many project tasks or phases as feasible to minimize total project time.
  54. Floor plate
    A common term for floor size or outline of overall size, shape, features of a building basic floor plan/building basic shell plan.
  55. Forward pass scheduling
    A scheduling technique that takes tasks in sequential order in order to arrive at a realistic and reasonable completion date.
  56. General and specific terms and conditions
    A blanket term in contract language to refer to all of the general boilerplate terms and conditions incorporated by reference to a contract as well as the specific terms and conditions relating to the specific project. Specific terms and conditions can include site access restrictions and security requirements.
  57. General contractor
    The traditional builder who engages in the complete on-site management of the actual construction project. General contractors perform the work by contracting on their own behalf with subcontractors and suppliers.
  58. Glass line/Window line
    A vertical plane indicating the location of the glass on a given wall of the building exterior used as a measurement point for various space measurement systems.
  59. Grade
    A method of classifying materials or deliverables that have the same functional use but differences in technical features or perceived value.
  60. Gross area
    The sum of the floor areas on all levels of a building that are totally enclosed within the building envelope. (Measured to the outside face of exterior walls.)
  61. Hard costs
    Cost for actual moving services, supplies and trucking expenses; costs for move materials, freight elevator and loading dock usage; special security guard services during the course of a move; new stationery, business cards, move notices, etc. Other move costs that might be included are design, food service, graphics, furniture, voice/data costs, etc.
  62. Holdback
    A percentage of a contract price that an owner or contractor retains or percentage of a loan that a lender retains until the project is finished or all project bills are paid.
  63. Incentives
    Contractually specified monetary inducements linked to specific performance measurements.
  64. Indemnification
    A clause stating that the owner (officers, directors, employees, etc.) is “held harmless” from any damages or claims resulting from the construction project.
  65. Inspection
    The detection and removal of flaws in deliverables at key milestones or at completion.
  66. Integrated project delivery
    An Integrated project delivery technique that focuses on early collaboration and data sharing to maximize the final value for the owner in the form of the completed building.
  67. Internal rate of return (IRR)
    The return on investment a company typically realizes (or targets to realize) based on its past track record regarding asset investments. It is the interest rate at which lifetime dollar savings equal lifetime dollar costs, after the time value of money is taken into account.
  68. Key plan
    Small-scale floor plans incorporated into a corner of construction drawings to give a geographic orientation of the location of the construction project.
  69. Lead time
    The delay between when materials or services are requested and when they are available at the right time and place.
  70. Letter of intent
    A document issued by the owner to the contractor to allow work to begin prior to execution of the formal contract.
  71. Liability insurance
    Insurance that protects the insured against lawsuits brought in response to supposed acts of negligence that result in injury or loss of property to the public.
  72. Licensing
    (1) permission to execute a project as granted by local authorities; (2) the act of granting a license that is mandatory for practicing a profession or service in a specific region.
  73. Life cycle cost (LCC)
    The total cost of acquisition, operation, maintenance, and support of an item throughout its useful life, and including the cost of removal.
  74. Limit of retention/retainage
    The longest time period in which money can be held back for paying a contractor for rendered services to ensure all sub-contractors have been paid.
  75. Liquidated damages
    An amount of damages on a daily basis specified in the contract. This amount will be assessed against the contractor for each day beyond the contract completion date that the project remains uncompleted.
Card Set
FMP - Project Management - Part 01