During the construction period, price variation clause in contracts caters to______.

Rate of inflation

Increase in rates of only important materials

Variation in cost in materials element, labour element and petrol-oil-lubricant element

Variation in total cost of the project on an ad hoc basis

Correct Answer : Variation in cost in materials element, labour element and petrol-oil-lubricant element

Recently Updated in Construction Management Questions

The reduction in project time normally results in_____.

Increasing the direct cost and indirect cost both

Decreasing the direct cost and indirect cost both

Increasing the direct cost and decreasing the indirect cost

Decreasing the direct cost and increasing indirect cost

Correct Answer : Option (C) : Increasing the direct cost and decreasing the indirect cost

If the expected time of completion of a project is 60 weeks with a standard deviation of 5 weeks, the probability of completing the project in 50 weeks and 65 weeks respectively will be

15.9% and 97.7%

2.3% and 84.1%

97.7 % and 15.9%

97.7% and 84.1%

Correct Answer : Option (B) : 2.3% and 84.1%

Wheeled tractors are replacing crawler tractors because

1. Wheeled tractors travel faster.
2. Crawler tractors are more expensive.
3. Track parts of a crawler wear out quickly.
4. Crawler tractors have stick control.

of following statements

1, 2 and 3 are correct

1, 2 and 4 are correct

1, 3 and 4 are correct

2, 3 and 4 are correct

Correct Answer : Option (A) : 1, 2 and 3 are correct