Construction Management Assignment
To increase your knowledge of the field, come up with an original example of a project and write a four-page essay on project closeout. Most of what you need is in Chapter 7: Project Construction, Monitoring, and Closeout.
Your essay should fully describe project closeoutand address each of the 10 project closeout steps shown on pages 180-181 in the textbook. At a minimum, be sure your essay answers the following questions:
1. Describe one (1) reason that it is important on public projects for the contract to achieve that crucial and final step of construction contract closeout.
2. Describe one (1) way that the execution of the Certificate of Completion or Substantial Completion affects what retainage may be held.
3. Describe two (2) hot spots of dispute that can arise between the contractor and owner after the owner begins beneficial use of the project due to the parties not understanding their responsibilities.
4. Describe one (1) way that the owner's ability to collect liquidated damages is affected by issuance of a Certificate of Substantial Completion.
5. Identify one (1) certificate that should be executed by the contractor and surety prior to the owner releasing final retainage funds.