Life Cycle Costs in Building Analysis

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

Which type of owner is more likely to expect completed projects at or below target costs?

Government agencies

Public institutions

Commercial and industrial corporations (correct)

Developers

What are some factors that can affect construction project costs?

Poorly written contracts

Long delays in payments to contractors

Complex bidding procedures

All of the above (correct)

What role does the architect play in considering construction cost estimate adjustment factors?

The architect should act proactively to consider cost estimate adjustment factors (correct)

The architect has no role in considering cost estimates

The architect only considers the design team's influence on cost factors

The architect only considers the client's organizational priorities

Which of the following risks is frequently experienced in a construction project?

Lack of stakeholder input Signup and view all the answers

What can be the result of a functional program that was not validated against the construction cost estimate?

Inaccurate cost estimate Signup and view all the answers

Which factor can significantly impact the cost of a construction project?

Owner requirements beyond industry-accepted practices Signup and view all the answers

What should architects do when using historic cost data for a project?

Check and make adjustments for specific issues Signup and view all the answers

Which of the following is the objective when it comes to minimizing construction cost while maintaining quality?

Using alternative materials and systems Signup and view all the answers

What is the purpose of Embodied Energy Cost Analysis?

To assess the environmental impacts and energy consumption of building materials Signup and view all the answers

Why should architects develop knowledge and skills in the area of Embodied Energy Cost Analysis?

To conserve natural and manufactured building materials Signup and view all the answers

Which of the following is NOT one of the three types of costs in life cycle costing?

Design costs Signup and view all the answers

What is the formula for calculating the total cost of a building in life cycle costing?

Total Cost = Capital Cost + Operating Cost + Maintenance Cost Signup and view all the answers

When should the architect discuss the importance of life cycle costs with the client?

Before the schematic design phase Signup and view all the answers

What is the purpose of value engineering in a construction project?

To minimize operating and maintenance costs Signup and view all the answers

Which of the following is a disadvantage of using quantity surveyors for cost estimating?

Unit costs are usually historical and not connected to real-time costs Signup and view all the answers

Which phase of the architectural 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 Signup and view all the answers

In which phase does the architect update the construction cost estimate based on the construction documents?

Phase D. Construction Documentation Phase Signup and view all the answers

What is one advantage of obtaining expert advice from independent professional experts (quantity surveyors)?

They have extensive archival material for many different building projects Signup and view all the answers

What type of cost information should the architect consider in the bidding and negotiation phase?

All of the above Signup and view all the answers

What is one disadvantage of obtaining cost information from construction managers and other development/construction experts?

They may not always present a comprehensive overview of all costs Signup and view all the answers

When should architects use the services of a quantity surveyor?

Whenever appropriate, to increase the quality and depth of the architectural service Signup and view all the answers

During the contract administration phase, the architect is responsible for determining the amounts owing to the contractor under the contract. What method is well-suited for assessing the contractor's schedule of values?

Elemental cost analysis method Signup and view all the answers

Which of the following is true about construction price index data?

They show trends and are usually a few months out of date Signup and view all the answers

What is the purpose of contingencies in a budget estimate?

To provide a prediction of the final cost Signup and view all the answers

What is the recommended approach for using cost estimating data?

Build forecasts using the data carefully and methodically Signup and view all the answers

What is the purpose of the 'Checklist for the Management of the Architectural Project'?

To ensure all cost estimating tasks are attended to at the appropriate time Signup and view all the answers

Study Notes

Owner Expectations

Owners with a fixed budget are more likely to expect completed projects at or below target costs.

Factors Affecting Construction Costs

Various factors can impact construction project costs, including changes in design, materials, or labor costs, and unexpected site conditions.

Architect's Role in Cost Estimation

The architect plays a crucial role in considering construction cost estimate adjustment factors to ensure accurate cost estimates.

Risks in Construction Projects

One frequently experienced risk in construction projects is cost overruns.

Functional Program Validation

If a functional program is not validated against the construction cost estimate, it can result in project delays or cost overruns.

Factors Impacting Construction Costs

The location of the project can significantly impact the cost of a construction project.

Using Historic Cost Data

When using historic cost data for a project, architects should adjust it for inflation and location-specific factors.

Minimizing Construction Costs

The objective is to minimize construction costs while maintaining quality by optimizing design, materials, and construction methods.

Embodied Energy Cost Analysis

The purpose of Embodied Energy Cost Analysis is to assess the environmental impact of a building's materials and construction processes.
Architects should develop knowledge and skills in Embodied Energy Cost Analysis to design more sustainable buildings.

Life Cycle Costing

Life cycle costing involves calculating the total cost of a building over its entire life cycle, including construction, operation, and maintenance costs.
The formula for calculating the total cost of a building is: Total Cost = Initial Cost + Operating Cost + Maintenance Cost.
Architects should discuss life cycle costs with clients during the schematic design phase.
One of the three types of costs in life cycle costing is NOT external costs.

Value Engineering

The purpose of value engineering in a construction project is to optimize the design and materials to reduce costs while maintaining quality.

Quantity Surveyors

One disadvantage of using quantity surveyors for cost estimating is that they may not fully understand the project's design and functional requirements.
One advantage of obtaining expert advice from independent professional experts (quantity surveyors) is that they provide objective and unbiased cost estimates.

Project Phases

During the design development phase, the architect refines the building's scope, design, quality, and details to ensure they will not exceed the limits of the construction cost budget.
During the construction documents phase, the architect updates the construction cost estimate based on the construction documents.

Bidding and Negotiation

During the bidding and negotiation phase, the architect should consider detailed cost information, including unit prices and quantities.

Disadvantages of Cost Information

One disadvantage of obtaining cost information from construction managers and other development/construction experts is that they may have biased estimates.

Using Quantity Surveyors

Architects should use the services of a quantity surveyor during the design development phase to obtain accurate and unbiased cost estimates.

Contract Administration

During the contract administration phase, the architect is responsible for determining the amounts owing to the contractor under the contract.

Schedule of Values

The schedule of values method is well-suited for assessing the contractor's schedule of values.

Construction Price Index Data

Construction price index data is useful for tracking changes in construction costs over time and adjusting cost estimates accordingly.

Contingencies

The purpose of contingencies in a budget estimate is to account for unexpected expenses or changes in the project scope.

Cost Estimating Data

The recommended approach for using cost estimating data is to use current, location-specific data, adjusted for inflation.

Checklist for the Management of the Architectural Project

The purpose of the Checklist for the Management of the Architectural Project is to ensure that architects consider all aspects of project management, including cost estimation and control.

Studying That Suits You

Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

Description

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.