26 Questions
Which type of owner is likely to expect completed projects at or below target costs?
Commercial and industrial corporations
What are some factors that can affect construction project costs?
All of the above
What does the functional program define for the design project?
The owner's functional requirements
According to the text, what are two project risks that architects should proactively mitigate?
Unstated stakeholder requirements and requirements of unidentified stakeholders
What can be a result of a functional program that was not validated against the construction cost estimate?
Cost overruns
Which of the following can affect the construction budget?
Late commencement due to winter conditions
What should architects do when using historic cost data for project forecasts?
Make adjustments for specific issues
Which of the following is NOT one of the three types of costs in life cycle costing?
Design costs
What is the formula for calculating the total cost of a building in life cycle costing?
Total Cost = Capital Cost + Operating Cost + Maintenance Cost
When should the architect discuss the importance of life cycle costs with the client?
During the design development phase
What is the purpose of value engineering in a construction project?
To reduce capital spending
Which of the following is true about construction price index data?
They show trends but may be out of date
What is the purpose of contingency allowances in a budget estimate?
To allocate funds for design and construction contingencies
What is the recommended approach for architects when using construction cost data?
Build forecasts using data carefully and methodically
What is the purpose of the checklist for the management of the architectural project?
To ensure all cost estimating tasks are completed by the architect
Which of the following best describes the objective in construction cost management?
Minimize construction cost and maintain quality through the substitution of alternative materials and systems.
Under what circumstances can the substitution of inferior or inappropriate products occur?
When the owner chooses to engage an independent reviewer.
What is the purpose of Embodied Energy Cost Analysis?
To assess the environmental impacts and energy consumption of building materials in buildings.
Which phase of the project involves refining the building's scope, design, quality, and details to ensure they will not exceed the limits of the construction cost budget?
Phase C. Design Development Phase
During which phase does the architect update the construction cost estimate based on the construction documents?
Phase D. Construction Documentation Phase
What cost information does the architect need to consider during the bidding and negotiation phase?
All of the above
Which phase of the project involves the architect determining the amounts owing to the contractor and processing the contractor's application for payment?
Phase F. Contract Administration Phase
Which of the following is a disadvantage of using quantity surveyors for cost estimating?
Unit costs are usually historical and often not connected to real-time costs
What is one advantage of obtaining expert advice from independent professional experts (quantity surveyors)?
They have up-to-date archival material that is easily accessible
What is a recommended practice for architects when using the services of a quantity surveyor?
Monitor every aspect of their work to ensure the information is applicable to the current project
What is an advantage of obtaining cost calculations from construction managers and other development/construction experts?
Reliability of cost calculations increases using unit costs assigned to area measurements
Quiz: Understanding Life Cycle Costs in Building Analysis Test your knowledge on life cycle costing in building analysis with this quiz. Explore the objective of determining the "total cost" of a building over its lifetime, and learn how this method allows for comparisons between alternative components or systems. Gain insights into the design and functioning of a project, as well as how costs arise. Take this quiz to further your understanding of life cycle costs in building analysis.
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