Podcast
Questions and Answers
Which method is not widely used for estimating costs based on volume?
Which method is not widely used for estimating costs based on volume?
- Parametric estimating: area
- Elemental cost method
- Parametric estimating: volume (correct)
- Parametric estimating: unit use
What is the purpose of using the Parametric estimating: unit use method?
What is the purpose of using the Parametric estimating: unit use method?
- To calculate overall project costs
- To estimate costs based on volume
- To calculate building and component costs (correct)
- To provide general cost advice
Which class level of cost estimates aligns with the greatest accuracy?
Which class level of cost estimates aligns with the greatest accuracy?
- Class D
- Class C
- Class B
- Class A (correct)
What factor can cause construction costs to vary due to economic cycles?
What factor can cause construction costs to vary due to economic cycles?
Which two formats of cost estimates are widely accepted in the construction industry?
Which two formats of cost estimates are widely accepted in the construction industry?
What is the purpose of Uniformat II?
What is the purpose of Uniformat II?
Which method of cost estimation is performed when little information is available about the project?
Which method of cost estimation is performed when little information is available about the project?
What is the most accurate method of cost estimation that requires extensive effort from all parties involved in the construction project?
What is the most accurate method of cost estimation that requires extensive effort from all parties involved in the construction project?
Which one of the following best describes the Construction Budget?
Which one of the following best describes the Construction Budget?
What does the Construction Cost include?
What does the Construction Cost include?
What does the Construction Cost Estimate represent?
What does the Construction Cost Estimate represent?
What is a Construction Contingency?
What is a Construction Contingency?
Which of the following is the correct definition of a project budget?
Which of the following is the correct definition of a project budget?
When is cost planning typically done during a construction project?
When is cost planning typically done during a construction project?
What is the architect's responsibility in preparing cost estimates?
What is the architect's responsibility in preparing cost estimates?
What is the liability of the architect for incorrect cost estimates?
What is the liability of the architect for incorrect cost estimates?
Which of the following is a disadvantage of obtaining cost estimating advice from quantity surveyors?
Which of the following is a disadvantage of obtaining cost estimating advice from quantity surveyors?
What is the purpose of establishing contingency allowances in a budget estimate?
What is the purpose of establishing contingency allowances in a budget estimate?
Which phase of the architectural project involves establishing a preliminary design and a construction cost estimate for the project?
Which phase of the architectural project involves establishing a preliminary design and a construction cost estimate for the project?
Which of the following factors can affect construction costs?
Which of the following factors can affect construction costs?
What type of information can be obtained from construction price index data?
What type of information can be obtained from construction price index data?
What is the purpose of the functional program in a design project?
What is the purpose of the functional program in a design project?
What can be a result of changes in the functional program of a project?
What can be a result of changes in the functional program of a project?
How can contractual relationships between the owner and the contractor impact the cost of a project?
How can contractual relationships between the owner and the contractor impact the cost of a project?
During which phase does the architect analyze the bids received from contractors?
During which phase does the architect analyze the bids received from contractors?
Which document provides guidance on calling bids and awarding construction contracts?
Which document provides guidance on calling bids and awarding construction contracts?
What should the architect determine when preparing the bidding documents?
What should the architect determine when preparing the bidding documents?
Which combination of base bid and acceptable alternative prices may be the choice of greatest value to the owner?
Which combination of base bid and acceptable alternative prices may be the choice of greatest value to the owner?
What should the architect and owner be mindful of during the bidding process?
What should the architect and owner be mindful of during the bidding process?
What are itemized prices in the bidding documents used for?
What are itemized prices in the bidding documents used for?
