Introduction to Construction Cost Engineering
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Questions and Answers

What does Construction Cost include?

  • Penalties and liquidated damages
  • Only transportation and equipment
  • Only materials and labor
  • Supervisions, materials, supplies, and labor (correct)

    • How has an estimate traditionally been viewed?

  • As an exact calculation based on complete data
  • As a perfect statement of costs
  • As an appraisal with no room for error
  • As a rough valuation based on opinion (correct)

    • Besides direct costs, what else is added to determine the bid price of a project?

  • Costs for penalties
  • Costs for overhead, contingencies, and profit (correct)
  • Costs for transportation
  • Costs for additional labor

    • What are the distinct tasks involved in estimating?

    <p>Determining the probable real cost and real time to build a project</p> Signup and view all the answers

    What is the primary purpose of estimating in construction projects?

    <p>To determine the forecast costs needed to complete a project</p> Signup and view all the answers

    What is the purpose of lump-sum estimates in construction projects?

    <p>To submit a bid for projects with complete plans and specifications</p> Signup and view all the answers

    How does the Construction Specification Institute (CSI) approach differ from the Work Breakdown Structure (WBS) approach in organizing work items?

    <p>CSI identifies work by categories, while WBS identifies work by location</p> Signup and view all the answers

    In a unit-price estimate for a construction project, what does the cost per unit include?

    <p>Materials, labor, equipment, profit, and bonds</p> Signup and view all the answers

    When are negotiated work estimates typically used in construction projects?

    <p>When the owner wants early completion of the project</p> Signup and view all the answers

    What is the first step in preparing a cost estimate for a construction project?

    <p>Determining quantities</p> Signup and view all the answers

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