10+ Assistant General Manager Contract Interview Questions and Answers

Basic Rate is the minimum hourly wage paid to an employee for their work.

• Basic Rate is the minimum hourly wage paid to an employee for their work.

• It is determined by considering factors such as the employee's job role, experience, and industry standards.

• Other items to be considered for Basic Rate include the cost of living, minimum wage laws, and collective bargaining agreements.

• For example, a restaurant may have a Basic Rate of $10 per hour for servers, while a construction ...read more

FIDIC is an international standard for construction contracts. There are different types of FIDIC contracts for different purposes.

• FIDIC stands for International Federation of Consulting Engineers

• FIDIC contracts are widely used in the construction industry worldwide

• Different types of FIDIC contracts include Red Book, Yellow Book, Silver Book, and Green Book

• Red Book is used for construction projects where the employer is responsible for design

• Yellow Book is used for constructi...read more

SCC and GCC clauses are essential in contracts to outline rights and responsibilities of parties involved.

• SCC (Special Conditions of Contract) are specific to the project and can include details on scope, schedule, and payment terms.

• GCC (General Conditions of Contract) are standard clauses that apply to all contracts and cover topics like dispute resolution, termination, and indemnity.

• Both SCC and GCC help ensure clarity and fairness in contracts, protecting the interests of ...read more

Contracts domain is crucial for road sector development and management.

• Contracts ensure that all parties involved in road projects are clear about their roles and responsibilities.

• They help in setting project timelines, budgets, and quality standards.

• Contracts also provide a legal framework for dispute resolution and risk management.

• For example, a contract between a government and a construction company for building a highway will outline the scope of work, payment terms, and...read more

Contract management involves the administration and oversight of contracts throughout their lifecycle.

• Ensuring compliance with contract terms and conditions

• Monitoring contract performance and milestones

• Managing changes and amendments to contracts

• Resolving disputes and conflicts that may arise

• Maintaining accurate records and documentation

• Examples: tracking deadlines, negotiating terms, analyzing risks

Analysis of cost of activities involves evaluating expenses related to various tasks or projects.

• Identify all activities involved in the project

• Determine the cost associated with each activity

• Analyze the cost breakdown to identify areas of potential savings or inefficiencies

• Consider factors such as labor, materials, equipment, and overhead costs

• Use tools like cost estimation software or spreadsheets for accurate analysis

Prolongation claim refers to the additional time and cost incurred due to delays in project completion.

• Prolongation claims are common in construction contracts.

• There are two types of prolongation claims - compensable and non-compensable.

• Compensable prolongation claims are those where the contractor is entitled to additional time and cost due to delays caused by the owner or other parties.

• Non-compensable prolongation claims are those where the contractor is entitled to additio...read more

AGM Contracts handles a variety of contracts including construction, procurement, and service agreements.

• Construction contracts

• Procurement contracts

• Service agreements

Costing of projects involves estimating the expenses and resources required for completion.

• Costing of projects includes estimating labor, materials, equipment, and overhead costs.

• It is important to consider any potential risks or unforeseen expenses that may arise during the project.

• Costing also involves determining profit margins and pricing strategies to ensure profitability.

• Examples of costing methods include bottom-up estimating, parametric estimating, and analogous estim...read more