Construction Cost Estimating Basics

<p>Increase in project costs (C)</p> Signup and view all the answers

<p>They can change the competitiveness of bids (A)</p> Signup and view all the answers

<p>To provide a budget for the project (C)</p> Signup and view all the answers

<p>Historical data analysis (C)</p> Signup and view all the answers

<p>The level of detail in the project plans (A)</p> Signup and view all the answers

<p>Delays in project completion (C)</p> Signup and view all the answers

<p>They account for unexpected expenses (B)</p> Signup and view all the answers

<p>It increases costs due to maneuvering equipment and materials. (A)</p> Signup and view all the answers

<p>They add underground work requirements that raise costs. (B)</p> Signup and view all the answers

<p>It complicates logistics and can increase costs. (C)</p> Signup and view all the answers

<p>Potential need for extensive underground work. (B)</p> Signup and view all the answers

<p>It facilitates easier maneuvering of equipment and materials. (D)</p> Signup and view all the answers

<p>$1500 (D)</p> Signup and view all the answers

<p>Cubic meter (C)</p> Signup and view all the answers

<p>Plain concrete (A), Excavation (C)</p> Signup and view all the answers

<p>$8000 (A)</p> Signup and view all the answers

<p>$5000 (A)</p> Signup and view all the answers

<p>Historical unit costs from similar past projects (D)</p> Signup and view all the answers

<p>It is a straightforward approach based on similar projects' costs. (C)</p> Signup and view all the answers

<p>It may not account for unique factors of the current project. (D)</p> Signup and view all the answers

<p>When there are significant changes in project scope or design. (B)</p> Signup and view all the answers

<p>It is based on direct comparisons to similar past projects' costs. (A)</p> Signup and view all the answers

<p>39600 (C)</p> Signup and view all the answers

<p>Concrete (A)</p> Signup and view all the answers

<p>M2 (D)</p> Signup and view all the answers

<p>Plaster works (D)</p> Signup and view all the answers

<p>21600 (A)</p> Signup and view all the answers

The process of determining the likely cost of a construction project.

A detailed breakdown of the project into smaller, manageable components.

A cost estimate that is prepared using limited information and is therefore less accurate.

A cost estimate that is more detailed and accurate than a preliminary estimate.

A cost estimate that is based on historical data from similar projects.

Changes made to a project's scope or design to adjust its overall cost.

The process of adjusting a project's design or scope.

Proposals submitted by contractors, detailing the cost of completing a project.

Accurate estimates are crucial for contractors to create bids that are competitive enough to win projects and profitable enough to make money.

A construction site lacking easy access to equipment and materials leads to increased costs.

A site with poorly placed utilities can require extra work to move them, adding to construction expenses.

Construction projects require efficient movement of materials to keep costs low.

Difficult access to a construction site can slow down work, increasing labor and equipment time.

Hidden utilities can cause unexpected delays and additional work, significantly increasing costs.

A simple way to estimate initial project costs by using the unit cost of similar past projects.

A method for estimating project costs that relies on breaking down a project into smaller units and then estimating the cost of each unit.

Methods used to quickly and roughly estimate the cost of a project.

A general category of methods to quickly estimate project cost.

Using previously completed projects to estimate the cost of a new project.

The cost incurred directly in producing a good or service. This includes materials, labor, and equipment used in the production process.

A cost incurred for a specific activity, such as excavation or supplying concrete. It is a measurable cost for a defined part of the project.

The standard unit used to measure a material or activity. Examples include cubic meters (M3) for concrete or labor hours for skilled workers.

The total amount of a particular material or activity required for a project. For example, a project may require 300 cubic meters of excavation.

A separate business or company providing specialized services for a project, like excavating or installing plumbing. They contribute to the overall cost of the project.