It's My Money and I Need it Now
T/F When you order products, designer's "cost" is the same as designer's "net".
True
Vendors might accept an order cancellation but may charge a _____ fee.
Restocking
What does PO stand for?
Purchase Order
Which phase are acknowledgements received in?
5. Contract Administration
What does FOB stand for?
Free on Board
What is the difference between a Flat Fee and an Hourly Fee?
Flat Fee - a fixed agreed upon amount
Hourly Fee - paid for the amount of hours worked
____ ____ ____ means ownership of merchandise while items are on the common carrier.
(Hint: usually said as an acronym)
FOB Free on Board
Should the client see your POs?
No
Which two phases of the design process can a change order ocur in?
4. Contract Documents
5. Contract Administration
What does CPM stand for?
Critical Path Method
What does "Net 30 Days" mean?
30 calendar days from receiving the invoice to pay
Is the designer or the vendor responsible for the items in transit when terms are "FOB Factory"?
Designer
Choosing another pricepoint of option is defined as ____ engineering.
Value
Define "deliverables".
Documents to be shared with clients/users.
During the Scope of Services Analysis, always ask if there is a _____ file that exists. This is known as the "as-built drawing."
AutoCAD
What is a disadvantage of the Flat/Fixed fee method?
Heavily dependent on the accuracy of the budget
Is the designer or the vendor responsible for the items in transit when terms are "Freight Prepaid"?
Designer
Name or model # is what kind of specification?
A. Reference
B. Proprietary
C. Performance
D. Descriptive
B. Proprietary
Put these Phase 5 tasks in order of when they should ideally be done. (there are other tasks that may be done in between these as well)
Install Lighting
Frame Walls
Install Furniture
1. Frame Walls
2. Install Lighting
3. Install Furniture
_____ ______ is all of the money that comes into your business.
Gross Revenue
DPE means direct ____ expense and it is the what the company has to pay in order to have a ____ on staff.
Personnel
Designer
A potential problem is if the client doesn't realize the freight is FOB Factory or Freight Prepraid, but the client does not have insurance to cover ______ during truck transportation.
Damage
Notations reliant on industry standards is what kind of specification?
A. Reference
B. Proprietary
C. Performance
D. Descriptive
A. Reference
Place these tasks in order of when they happen during a Phase 5 kitchen install:
Install electrical wires in framed wall
Install drywall
Install flooring
1. Install electrical wires in framed wall
2. Install drywall
3. Install flooring
In interior design, what does "dye lot" mean?
The material was died together at the same time.