Construction Cost Estimation Quiz
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Questions and Answers

What is the purpose of construction cost estimating?

  • To manage the legal aspects of construction projects
  • To select the best construction materials
  • To determine the number of workers required for a construction project
  • To decide on a job’s feasibility, calculate a bid/quote, or create a project’s budget (correct)

    • What are the consequences of undervaluing the construction costs?

  • Improving business reputation
  • Reducing profit margin
  • Winning more bids
  • Losing money (correct)

    • What can incorrect cost estimates do to a builder or construction company?

  • Increase profit margin
  • Improve project scheduling
  • Destroy the business (correct)
  • Enhance reputation

    • What does construction cost estimating consider?

    <p>All the building costs necessary to complete a construction project</p> Signup and view all the answers

    How can estimating software benefit construction cost estimation?

    <p>Makes the work quicker, easier and more accurate</p> Signup and view all the answers

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