Do you think that this perception is true?

After reviewing the Unit 2 lecture materials and reading your textbook Chapter 4, from page 62 to 72, provide answers to following questions to the best of your knowledge:
• Name and briefly describe each of the two basic types of competitively bid construction contracts. Which type would be most likely used for building the piers to support a large suspension bridge? Why?
• Why is cost plus a percentage of cost type of contract not used to a great extent?
• Some people feel that lump-sum contracts can foster a more contentious work environment than any of the other types of contracts discussed in this chapter. What is the basis for this perception? Do you think that this perception is true?
• An architect and a general contractor join forces and win a DB project contract. What risks could this arrangement have, from the owner’s perspective? What advantages could this ad-hoc enterprise have, again from the owner’s viewpoint

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