Construction Project Financial Considerations Quiz

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to Lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What are the common elements in all construction projects?

  • Architectural design, structural design, and MEP systems
  • Scope of work, time schedule, and budget (correct)
  • Permits, inspections, and warranties
  • Materials, labor, and equipment

Why is construction cost estimation a fundamental skill for engineering firms and contractors?

  • It ensures compliance with environmental regulations
  • Important project decisions are based on costs (correct)
  • It speeds up the construction process
  • It helps in securing government contracts

What is a characteristic of buildings resulting from construction projects?

  • Long lifespan and low costs
  • Long lifespan and high costs (correct)
  • Short lifespan and high costs
  • Short lifespan and low costs

What do construction project investors often focus on when making decisions about building design and equipment?

<p>Acquisition costs (B)</p> Signup and view all the answers

Why do decisions connected with construction projects have long-term and significant impact?

<p>Due to the long lifespan and high costs of buildings (D)</p> Signup and view all the answers

Flashcards are hidden until you start studying

More Like This

Use Quizgecko on...
Browser
Browser