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Construction Estimating

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Answer 50 questions in 15 minutes.
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Match each statement with the correct term.
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1. Describe the CSI MasterFormat and how it is used.
The CSI format is a numbering system which divides the major areas involved in the construction project into 50 divisions (0 to 49). The format allows the contractor to develop a tracking system for all types of information.
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
Both extreme hot and cold will tend to slow down the pace of work.
Liquidated Damages

2. Name two systems that establish standards for the building design/construction estimating process.
False
True
True
Master Format and Uniformat

3. A sum withheld from each payment to the contractor in accordance with the terms of the owner-contractor agreement.
Surety bonds can only be obtained through companies who specialize in issuing surety bonds. The contractor will have to request the surety company to provide the bonds.
Retainage
There may be hesitation to bid a project just before the expiration of a union agreement due to the uncertainty of the outcomes of the negotiations. There is the possibility of a strike or dramatic increases in the prevailing wage rate.
True

4. The assembly of components to form the completed portion of a job.
Erection
Renting - Leasing - Buying
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor

5. What types of information are provided in the Invitation to Bid?
Skilled labor and material portions
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
Generally - the advertisement describes the location - extent - and nature of the work. It will designate the authority under which the project originated. Concerning the bid - it will give the place where bidding documents are available and list the
Joist

6. The substructure that supports a building or other structure.
Bid
Generally - the advertisement describes the location - extent - and nature of the work. It will designate the authority under which the project originated. Concerning the bid - it will give the place where bidding documents are available and list the
Foundation
The bid bond ensures that if a contractor is awarded the bid with the time specified - the contractor will enter into the contract and provide all other specified bonds.If the contractor fails to do so without justification -the bond shall be forfeit

7. Why is it a good idea for the general contractor to perform quantity surveys on work that is to be subcontracted out?

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8. Five basic skills everyone should master

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9. What are the difficulties encountered by the estimator during the preparation of a project's conceptual estimate?
Invitation to bid
Joist
1. Better understanding of the work to be subcontracted -2. Establishment of fair cost estimate for evaluating subcontractor's bid - 3. Checking of a subcontractor's scope of work - and4. Determination of time duration that can be assigned to a sub
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor

10. stimating labor requires determining the number of work hours to do a specific task and then applying the wage rate.
The bid bond ensures that if a contractor is awarded the bid with the time specified - the contractor will enter into the contract and provide all other specified bonds.If the contractor fails to do so without justification -the bond shall be forfeit
Liens
True
Liquidated Damages

11. A bathroom sink
True
There may be hesitation to bid a project just before the expiration of a union agreement due to the uncertainty of the outcomes of the negotiations. There is the possibility of a strike or dramatic increases in the prevailing wage rate.
Joist
Lavatory

12. Explain why using overtime is not recommended for most construction projects.
False
Internal Factor - External Factor - Project Related-Factor
Scheduling overtime for more than several weeks can result in huge productivity losses.
The maintenance bond guarantees the owner that the GC agrees to correct all defects of workmanship and materials for a specified period (one to three years) following occupancy by the owner.

13. Where would information be found on whether a bid bond was required and - if so - its amount?
True
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
Finding and bidding the type of work that's appropriate for your company - Making accurate cost estimates - Using pricing strategies that reduces your risk of loss - Anticipating the bids of your competition - Tracking overhead so you know the actual
The practice of withholding a percentage of the payment due to the contractor for the work performed and completed for that payment period.Retainage can affect the cash flow of the contractor and must be considered in the preparation of the bid.

14. What are some of the factors a contractor considers when making a decision to bid?
True
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
Common labor and material portions
Internal Factor - External Factor - Project Related-Factor

15. Describe the composition of the Building Cost Index (BCI).
Change Order
Skilled labor and material portions
With insurance an insurance company assumes the financial liability fora specified loss.The surety guarantees the performance of a contractor.The surety company will try to recover any losses from the contractor.
Generally - the advertisement describes the location - extent - and nature of the work. It will designate the authority under which the project originated. Concerning the bid - it will give the place where bidding documents are available and list the

16. What is the payment bond?
The payment bond (labor and material bond) guarantees the payment of all bills incurred by the contractor for labor and materials incurred or supplied on the project.
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence

17. Assemblies Estimate...
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
...
The estimator uses more detailed information such as the bay size - square feet of partition wall - number of plumbing fixtures - or square feet of carpet.
Instruction to bidders

18. The information provided in the General Conditions and Supplementary General Conditions does not influence the project cost.
The ability to procure the right piece of equipment for the job when the unit is needed
False
The maintenance bond guarantees the owner that the GC agrees to correct all defects of workmanship and materials for a specified period (one to three years) following occupancy by the owner.
Generally - the advertisement describes the location - extent - and nature of the work. It will designate the authority under which the project originated. Concerning the bid - it will give the place where bidding documents are available and list the

19. Proposal prepared by prospective contractor specifying the charges to be made for doing the work in accordance with the contract documents.
Direct Negotiation - Competitive Bidding
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
Bid
The payment bond (labor and material bond) guarantees the payment of all bills incurred by the contractor for labor and materials incurred or supplied on the project.

20. Statements or drawings that modify the basic contract documents after the latter have been issued to the bidders - but prior to the taking of bids.
Skilled labor and material portions
Addenda
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
The Labor Hour

21. A work order - usually prepared by the architect and signed by the owner or the owner's agent - authorizing a change in the scope of the work and a change in the cost of the project.
Change Order
1. Review scope 2. Quantity takeoff 3. Price materials 4. Price labor 5. Price equipment 6. Obtain specialty contractor's bid 7. Obtain supplier's bid 8. Calculate taxes - bonds - insurance - and overhead 9. Contingency 10. Profit
With insurance an insurance company assumes the financial liability fora specified loss.The surety guarantees the performance of a contractor.The surety company will try to recover any losses from the contractor.
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence

22. Name the types of Estimates
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
The payment bond (labor and material bond) guarantees the payment of all bills incurred by the contractor for labor and materials incurred or supplied on the project.
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
The CSI format is a numbering system which divides the major areas involved in the construction project into 50 divisions (0 to 49). The format allows the contractor to develop a tracking system for all types of information.

23. Why do many contractors hesitate to bid just before the expiration of a union contract?
There may be hesitation to bid a project just before the expiration of a union agreement due to the uncertainty of the outcomes of the negotiations. There is the possibility of a strike or dramatic increases in the prevailing wage rate.
Addenda
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor

24. What are the benefits of renting equipment?
The ability to procure the right piece of equipment for the job when the unit is needed
1. Better understanding of the work to be subcontracted -2. Establishment of fair cost estimate for evaluating subcontractor's bid - 3. Checking of a subcontractor's scope of work - and4. Determination of time duration that can be assigned to a sub
...
The Labor Hour

25. What is the performance bond?
As-built drawings
The performance bond guarantees the owner that - within limits - the contractor will perform all work in accordance with the contract documents - and thatthe owner will receive the project built in substantialagreement with the documents.
True
Internal Factor - External Factor - Project Related-Factor

26. What does the labor hour represent?
The amount of work that can be done in an hour
Surety bonds can only be obtained through companies who specialize in issuing surety bonds. The contractor will have to request the surety company to provide the bonds.
Common labor and material portions
True

27. A surety bond guaranteeing that a bidder will sign a contract - if offered - in accordance with their proposal.
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
Bid Bond
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
As-built drawings

28. What types of information are provided in the Invitation to Bid?
Skilled labor and material portions
Scheduling overtime for more than several weeks can result in huge productivity losses.
Generally - the advertisement describes the location - extent - and nature of the work. It will designate the authority under which the project originated. Concerning the bid - it will give the place where bidding documents are available and list the
Bid

29. An agreed-to sum chargeable against the contractor as reimbursement for damages suffered by the owner because of contractor's failure to fulfill contractual obligations
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps
Foundation
Liquidated Damages
With insurance an insurance company assumes the financial liability fora specified loss.The surety guarantees the performance of a contractor.The surety company will try to recover any losses from the contractor.

30. Legal claims against an owner for amounts due those engaged in or supplying materials for the construction of the building.
There may be hesitation to bid a project just before the expiration of a union agreement due to the uncertainty of the outcomes of the negotiations. There is the possibility of a strike or dramatic increases in the prevailing wage rate.
Skilled labor and material portions
Generally - the advertisement describes the location - extent - and nature of the work. It will designate the authority under which the project originated. Concerning the bid - it will give the place where bidding documents are available and list the
Liens

31. Order of Magnitude Estimate...
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
A gross unit such as the number of hospital beds is used.
True
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.

32. The substructure that supports a building or other structure.
Direct Negotiation - Competitive Bidding
The ability to procure the right piece of equipment for the job when the unit is needed
Foundation
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above

33. Drawings made during the progress of construction - or subsequent thereto - illustrating how various elements of the project were actually installed.
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
Skilled labor and material portions
As-built drawings
Bid Bond

34. What is the best source for productivity data?

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35. Describe and provide examples of specific use equipment and general use equipment.
True
Lump-Sum Estimate - Unit Price Estimate
The bid bond ensures that if a contractor is awarded the bid with the time specified - the contractor will enter into the contract and provide all other specified bonds.If the contractor fails to do so without justification -the bond shall be forfeit
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors

36. List the factors affecting labor productivity
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
Liquidated Damages
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
Addenda

37. A list prepared by the architect or engineer of the contractor's uncompleted work or work to be corrected.
Joist
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
Direct Negotiation - Competitive Bidding
Punch List

38. The assembly of components to form the completed portion of a job.
Erection
Lavatory
The practice of withholding a percentage of the payment due to the contractor for the work performed and completed for that payment period.Retainage can affect the cash flow of the contractor and must be considered in the preparation of the bid.
Direct Negotiation - Competitive Bidding

39. The equipment used on construction projects can be divided into three categories: Owned - leased - and rented.
The CSI format is a numbering system which divides the major areas involved in the construction project into 50 divisions (0 to 49). The format allows the contractor to develop a tracking system for all types of information.
Internal Factor - External Factor - Project Related-Factor
Foundation
True

40. Name two systems that establish standards for the building design/construction estimating process.
The ability to procure the right piece of equipment for the job when the unit is needed
1. The contractor can get the most suitable piece of equipment.2. The equipment is most likely newer and in a better state of repair.3. The rental company handles maintenance.4. The contractor does not tie up their capital.
Master Format and Uniformat
False

41. What is the bid bond and how does it protect the owner?
True
The practice of withholding a percentage of the payment due to the contractor for the work performed and completed for that payment period.Retainage can affect the cash flow of the contractor and must be considered in the preparation of the bid.
The bid bond ensures that if a contractor is awarded the bid with the time specified - the contractor will enter into the contract and provide all other specified bonds.If the contractor fails to do so without justification -the bond shall be forfeit
Lavatory

42. Under what conditions are wage premiums applied
Liens
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
1. The contractor can get the most suitable piece of equipment.2. The equipment is most likely newer and in a better state of repair.3. The rental company handles maintenance.4. The contractor does not tie up their capital.
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.

43. The most reliable productivity rates come from historical data
True
The CSI format is a numbering system which divides the major areas involved in the construction project into 50 divisions (0 to 49). The format allows the contractor to develop a tracking system for all types of information.
The amount of work that can be done in an hour
Lump-Sum Estimate - Unit Price Estimate

44. The information provided in the General Conditions and Supplementary General Conditions does not influence the project cost.
As-built drawings
False
Bid Bond
Contract Documents

45. Why do many contractors hesitate to bid just before the expiration of a union contract?
There may be hesitation to bid a project just before the expiration of a union agreement due to the uncertainty of the outcomes of the negotiations. There is the possibility of a strike or dramatic increases in the prevailing wage rate.
The Labor Hour
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
Lavatory

46. A surety bond guaranteeing that a bidder will sign a contract - if offered - in accordance with their proposal.
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
Generally - the advertisement describes the location - extent - and nature of the work. It will designate the authority under which the project originated. Concerning the bid - it will give the place where bidding documents are available and list the
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
Bid Bond

47. Construction estimating is more an art than a science
The payment bond (labor and material bond) guarantees the payment of all bills incurred by the contractor for labor and materials incurred or supplied on the project.
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
Generally - the advertisement describes the location - extent - and nature of the work. It will designate the authority under which the project originated. Concerning the bid - it will give the place where bidding documents are available and list the
As-built drawings

48. A document stating the procedures to be followed by bidders.
The ability to procure the right piece of equipment for the job when the unit is needed
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
Instruction to bidders
The CSI format is a numbering system which divides the major areas involved in the construction project into 50 divisions (0 to 49). The format allows the contractor to develop a tracking system for all types of information.

49. What are some of the costs that must be included in equipment operating costs?
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
True
True
The payment bond (labor and material bond) guarantees the payment of all bills incurred by the contractor for labor and materials incurred or supplied on the project.

50. The location where material can be stored in relationship to the construction project affects productivity.
The practice of withholding a percentage of the payment due to the contractor for the work performed and completed for that payment period.Retainage can affect the cash flow of the contractor and must be considered in the preparation of the bid.
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
The payment bond (labor and material bond) guarantees the payment of all bills incurred by the contractor for labor and materials incurred or supplied on the project.
True

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Construction Estimating

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