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AACE International Exam CCP Topic 1 Question 8 Discussion
Topic #: 1
Which of the following best describes the three key participants for projects that are executed under a three-party contractual relationship?
In construction and project management, a three-party contractual relationship typically involves three key participants: the Owner, the Engineer, and the Contractor.
Key Points:
Owner:
The entity that funds and owns the project. The owner defines the project scope, objectives, and requirements and is the ultimate decision-maker.
Engineer:
Often referred to as the 'Designer' or 'Consultant,' the engineer is responsible for the technical design and specifications of the project. They ensure the project is constructed according to the owner's requirements and standards.
Contractor:
The party responsible for executing the construction work. The contractor follows the design provided by the engineer and delivers the project within the agreed terms of the contract.
Conclusion: The correct answer is C. Owner, engineer, contractor because these three parties are central to the execution and management of construction projects under a three-party contractual arrangement.
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