Florida Building Contractor Business/Finance Practice Exam

What must a contractor include in a contract regarding timelines?

1. Exact dates for multiple phases

2. A rough estimate of project costs

3. A schedule of approximate starting and completion dates

4. Provisions for weather delays

The correct answer is: A schedule of approximate starting and completion dates

Including a schedule of approximate starting and completion dates in a contract is essential for establishing clear expectations between the contractor and the client. This schedule provides a framework for project management, helping to keep both parties accountable and allowing for monitoring of progress. By outlining tentative timelines, the contractor ensures that the client has a general idea of when to expect project milestones and completion, which helps in planning for subsequent activities or arrangements. While specifying exact dates for multiple phases might seem detailed, it is often impractical due to the many variables that can affect construction timelines. A rough estimate of project costs is also critical but does not directly address timeline expectations. Provisions for weather delays are important for managing unforeseen circumstances, yet they do not replace the need for a basic schedule of expected project durations. Therefore, providing a schedule of approximate starting and completion dates strikes a balance between specificity and flexibility, essential for effective planning and communication.