Podcast
Questions and Answers
What is the main reason why the percentage of construction cost method is not commonly used nowadays?
What is the main reason why the percentage of construction cost method is not commonly used nowadays?
- The method does not account for the increasing complexity and variability in project tasks (correct)
- The method is not supported by industry standards
- The method requires extensive legal documentation
- The method is too time-consuming to calculate accurately
When should owners consider using experienced 'in-house' staff or consultants?
When should owners consider using experienced 'in-house' staff or consultants?
- For negotiating legal contracts
- For supervising construction workers on-site
- For developing program budgets for various project costs (correct)
- For obtaining permits from local authorities
What assumption does the validity of the percentage-of-construction-cost method rely on?
What assumption does the validity of the percentage-of-construction-cost method rely on?
- The location of the project has no impact on engineering fees
- All projects have similar cost structures
- Detailed design and supervision costs correlate directly with the total cost of construction (correct)
- Construction cost does not vary based on project complexity
What is the primary reason for the decreased use of the percentage of construction cost method?
What is the primary reason for the decreased use of the percentage of construction cost method?
In determining compensation for detailed design or construction supervision services, what cost is excluded from the construction cost?
In determining compensation for detailed design or construction supervision services, what cost is excluded from the construction cost?
What does the validity of the percentage-of-construction-cost method rely on?
What does the validity of the percentage-of-construction-cost method rely on?
Under the percentage-fee calculation, what factors should be considered when determining the fee?
Under the percentage-fee calculation, what factors should be considered when determining the fee?
When should owners use consultants to develop detailed program budgets for various project costs?
When should owners use consultants to develop detailed program budgets for various project costs?
What is the purpose of engaging a Civil Engineer in a project during the study and report phase?
What is the purpose of engaging a Civil Engineer in a project during the study and report phase?
Why are estimated probable total costs of projects based on the study and report phase considered preliminary?
Why are estimated probable total costs of projects based on the study and report phase considered preliminary?
What does the Construction Cost estimate include?
What does the Construction Cost estimate include?
Why does inflation need to be considered in estimating the construction cost?
Why does inflation need to be considered in estimating the construction cost?
When might special or additional engineering services be required during the final design and construction phase?
When might special or additional engineering services be required during the final design and construction phase?
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