Construction Cost Estimating Quiz

Construction Estimating

• Indirect costs, such as salaries, overhead, and administrative expenses, are NOT considered direct costs in construction estimating.
• Construction estimators, who are typically experienced construction professionals, perform the process of construction estimating.

Knowledge Required for Accurate Estimating

• Accurate estimating of project costs requires knowledge of construction methods, materials, labor productivity, and local building codes and regulations.

Purpose of Reviewing a Bid Package

• The purpose of reviewing a bid package in construction estimating is to ensure that the bid is complete, accurate, and compliant with the contract requirements.

Importance of Accurate Estimating

• Accurate estimating is essential for the success of a construction project as it enables contractors to submit competitive bids, manage project cash flow, and ensure profitability.