Podcast
Questions and Answers
Which of the following is NOT considered a direct cost in construction estimating?
Which of the following is NOT considered a direct cost in construction estimating?
Who performs the process of construction estimating?
Who performs the process of construction estimating?
What knowledge is required for accurate estimating of project costs?
What knowledge is required for accurate estimating of project costs?
What is the purpose of reviewing a bid package in construction estimating?
What is the purpose of reviewing a bid package in construction estimating?
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Why is accurate estimating essential for the success of a construction project?
Why is accurate estimating essential for the success of a construction project?
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Study Notes
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.
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Description
Test your knowledge of construction cost estimating with this step-by-step guide quiz. Learn about the process of calculating direct and indirect costs for a construction project.
