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CIPS L6M5 Exam - Topic 1 Question 25 Discussion
Actual exam question for
CIPS's
L6M5 exam
Question #: 25
Topic #: 1
[All L6M5 Questions]
Topic #: 1
Joanne is preparing a contract for the construction of a large shopping center.
The project includes 52 retail units, several restaurants, and a parking facility.
Joanne's company has contracted Construct Ltd under a Turnkey project.
She is using a Gantt chart as a schedule in the contract.
Q: What type of payment mechanism is being used in this contract?
Answer Options:
Suggested Answer:
C
The correct answer is Activity Schedule (p.60). A Gantt chart is a time-based project planning tool, typically used in Activity Schedule contracts, where payments are tied to the completion of specific tasks. Other payment methods, such as Fixed Lump Sum and Bill of Quantity, do not rely on this approach. [P.60]
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