Podcast
Questions and Answers
What type of cost estimate takes into account the cost of individual types of process equipment and multiplies it by an 'installation factor'?
What type of cost estimate takes into account the cost of individual types of process equipment and multiplies it by an 'installation factor'?
- Floor area estimate
- Function estimate
- Parameter estimate
- Factored estimate (correct)
Which cost estimate type is based on historical data and closely relates building costs to floor area?
Which cost estimate type is based on historical data and closely relates building costs to floor area?
- Function estimate
- Parameter estimate
- Factored estimate
- Floor area estimate (correct)
In a function estimate, which of the following examples represents the cost per bed for a hospital?
In a function estimate, which of the following examples represents the cost per bed for a hospital?
- Cost per student
- Cost per bed (correct)
- Cost per parking space
- Cost per seat
How are lump sum costs of trade related in the component system of construction?
How are lump sum costs of trade related in the component system of construction?
What improvement does parameter estimate offer over the floor area estimate?
What improvement does parameter estimate offer over the floor area estimate?
Which component is not considered in a factored estimate calculation?
Which component is not considered in a factored estimate calculation?
What type of estimate breaks down the subject into many items or components, often with detailed specifications?
What type of estimate breaks down the subject into many items or components, often with detailed specifications?
What is a key feature of estimating software that allows it to organize items in a hierarchical structure?
What is a key feature of estimating software that allows it to organize items in a hierarchical structure?
What type of estimate is often used when there is limited information available about the project?
What type of estimate is often used when there is limited information available about the project?
What is a key advantage of using building information modeling (BIM) in cost estimation?
What is a key advantage of using building information modeling (BIM) in cost estimation?
What is a common method of estimating costs used in construction projects?
What is a common method of estimating costs used in construction projects?
What is a desirable feature of estimating software that allows it to compare costs between different systems or providers?
What is a desirable feature of estimating software that allows it to compare costs between different systems or providers?
What must cost estimates in construction projects include?
What must cost estimates in construction projects include?
Which of the following is a key purpose of detailed estimation in construction projects?
Which of the following is a key purpose of detailed estimation in construction projects?
What is the main emphasis when it comes to profitability in the business of design and construction?
What is the main emphasis when it comes to profitability in the business of design and construction?
Which method is recommended for handling inexact figures during detailed estimation?
Which method is recommended for handling inexact figures during detailed estimation?
What is one important factor to consider when providing allowances in detailed estimation?
What is one important factor to consider when providing allowances in detailed estimation?
Why is it important to classify the general parts of a project into categories during detailed estimation?
Why is it important to classify the general parts of a project into categories during detailed estimation?
