Podcast
Questions and Answers
Which stage of the project is cost planning typically done?
Which stage of the project is cost planning typically done?
- Monitoring stage
- Design stage (correct)
- Construction stage
- Predesign stage
What is the purpose of cost control?
What is the purpose of cost control?
- To initiate and control the preparation of cost information
- To manage team members to stay within the budget (correct)
- To ensure effective cost management
- To provide reliable and current cost information
What should architects do to ensure effective cost management?
What should architects do to ensure effective cost management?
- Use cost information with confidence
- Express information in standard formats
- Maintain up-to-date records of historic cost data
- All of the above (correct)
What is the purpose of historic data in cost estimating?
What is the purpose of historic data in cost estimating?
Which of the following is NOT a responsibility of the architect in cost planning and control?
Which of the following is NOT a responsibility of the architect in cost planning and control?
What is the purpose of a construction cost estimate prepared by the architect?
What is the purpose of a construction cost estimate prepared by the architect?
Why is cost management more common today?
Why is cost management more common today?
What should architects do if suitably experienced personnel are not available in-house for cost consulting?
What should architects do if suitably experienced personnel are not available in-house for cost consulting?
Which of the following factors can affect construction costs?
Which of the following factors can affect construction costs?
What is the purpose of using the Unit Use method for cost calculation?
What is the purpose of using the Unit Use method for cost calculation?
What should architects include in the project budget to account for inflation?
What should architects include in the project budget to account for inflation?
What environmental factors can affect construction costs?
What environmental factors can affect construction costs?
Which factor significantly influences the cost and construction procedures in Canada?
Which factor significantly influences the cost and construction procedures in Canada?
Which factor affects the cost of construction in a downtown core compared to a suburban location?
Which factor affects the cost of construction in a downtown core compared to a suburban location?
Which factor affects the cost of construction in remote areas?
Which factor affects the cost of construction in remote areas?
Which factor can contribute significantly to project costs due to design requirements?
Which factor can contribute significantly to project costs due to design requirements?
Which of the following circumstances may require an accelerated project schedule?
Which of the following circumstances may require an accelerated project schedule?
What can be a reason for delayed commencement of a construction project?
What can be a reason for delayed commencement of a construction project?
In which of the following circumstances may additional construction costs arise?
In which of the following circumstances may additional construction costs arise?
What can be a factor contributing to delayed commencement during a time of inflation and currency fluctuations?
What can be a factor contributing to delayed commencement during a time of inflation and currency fluctuations?
What is the owner's responsibility when they have requirements that can affect the construction budget?
What is the owner's responsibility when they have requirements that can affect the construction budget?
Which class of cost estimate is prepared at an early stage in the project, when drawings are preliminary in nature, and includes a relatively large design contingency allowance?
Which class of cost estimate is prepared at an early stage in the project, when drawings are preliminary in nature, and includes a relatively large design contingency allowance?
Which method divides the building into major elements and provides a cost framework which is useful throughout the life of the project?
Which method divides the building into major elements and provides a cost framework which is useful throughout the life of the project?
Which method is particularly useful for architects during design development, when trade-offs between elements can be considered to improve the quality of the project without compromising the total budget?
Which method is particularly useful for architects during design development, when trade-offs between elements can be considered to improve the quality of the project without compromising the total budget?
Which method is best left to quantity surveyors or those experienced in the calculation of building costs, unless the architect has extensive in-house records which have been analyzed and are easily accessible?
Which method is best left to quantity surveyors or those experienced in the calculation of building costs, unless the architect has extensive in-house records which have been analyzed and are easily accessible?
True or false: The owner's requirements that can affect the construction budget should always be discussed and approved by the owner.
True or false: The owner's requirements that can affect the construction budget should always be discussed and approved by the owner.
True or false: Winter conditions can result in additional construction costs due to delayed commencement of a project.
True or false: Winter conditions can result in additional construction costs due to delayed commencement of a project.
True or false: Inflation and currency fluctuations can contribute to delayed commencement of a construction project.
True or false: Inflation and currency fluctuations can contribute to delayed commencement of a construction project.
True or false: The owner's responsibilities can impact the construction budget.
True or false: The owner's responsibilities can impact the construction budget.
True or false: An accelerated project schedule may be required by the owner to meet a critical date.
True or false: An accelerated project schedule may be required by the owner to meet a critical date.
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Study Notes
Cost Planning and Management
- Cost planning is typically done at the early stages of a project.
- The purpose of cost control is to ensure that the project is completed within the budget.
Architect's Role in Cost Management
- Architects should ensure effective cost management by discussing and approving the owner's requirements that can affect the construction budget.
- Architects should also ensure that they have suitably experienced personnel for cost consulting, and if not, they should consider outsourcing.
Construction Cost Estimates
- A construction cost estimate prepared by the architect is used to provide an initial estimate of the project's cost.
- The purpose of historic data in cost estimating is to provide a basis for future cost estimates.
Cost Estimating Methods
- The Unit Use method is used for cost calculation, which divides the building into major elements and provides a cost framework throughout the project.
- The Elemental Method is particularly useful for architects during design development, as it allows for trade-offs between elements to improve the project's quality without compromising the total budget.
- The Quantitative Method is best left to quantity surveyors or those experienced in the calculation of building costs, unless the architect has extensive in-house records.
Factors Affecting Construction Costs
- Environmental factors, such as weather conditions, can affect construction costs.
- Site location, such as downtown core or suburban locations, can affect construction costs.
- Remote areas can also impact construction costs.
- Design requirements, such as unique or complex designs, can contribute significantly to project costs.
Project Schedule and Delays
- Accelerated project schedules may be required by the owner to meet a critical date.
- Delayed commencement of a construction project can be caused by various factors, including winter conditions, inflation, and currency fluctuations.
- Additional construction costs can arise due to changes in the project scope or requirements.
Owner's Responsibilities
- The owner's requirements that can affect the construction budget should be discussed and approved by the owner.
- The owner's responsibilities can impact the construction budget.
True or False Statements
- True: The owner's requirements that can affect the construction budget should always be discussed and approved by the owner.
- True: Winter conditions can result in additional construction costs due to delayed commencement of a project.
- True: Inflation and currency fluctuations can contribute to delayed commencement of a construction project.
- True: The owner's responsibilities can impact the construction budget.
- True: An accelerated project schedule may be required by the owner to meet a critical date.
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