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Construction Cost Estimation Methods

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Questions and Answers

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?

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?

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?

The method no longer correlates directly with the required engineering fees for specific projects. Signup and view all the answers

In determining compensation for detailed design or construction supervision services, what cost is excluded from the construction cost?

Cost of land and right-of-way Signup and view all the answers

What does the validity of the percentage-of-construction-cost method rely on?

Detailed design and construction supervision costs varying in proportion to the cost of construction. Signup and view all the answers

Under the percentage-fee calculation, what factors should be considered when determining the fee?

Type, complexity, location, and magnitude of construction cost Signup and view all the answers

When should owners use consultants to develop detailed program budgets for various project costs?

'In-house' staff is unavailable. Signup and view all the answers

What is the purpose of engaging a Civil Engineer in a project during the study and report phase?

To provide field or traffic surveys and geotechnical explorations. Signup and view all the answers

Why are estimated probable total costs of projects based on the study and report phase considered preliminary?

Because final plans and specifications may not identify all concerns. Signup and view all the answers

What does the Construction Cost estimate include?

Initial estimates of probable project cost. Signup and view all the answers

Why does inflation need to be considered in estimating the construction cost?

To account for potential increases in materials and labor costs. Signup and view all the answers

When might special or additional engineering services be required during the final design and construction phase?

When unforeseen issues arise or are recommended by the Civil Engineer. Signup and view all the answers