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Construction Estimating

Instructions:

Answer 50 questions in 15 minutes.
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Match each statement with the correct term.
Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.

1. 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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2. Proposal prepared by prospective contractor specifying the charges to be made for doing the work in accordance with the contract documents.
Contract Documents
Bid
Joist
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.

3. Explain why using overtime is not recommended for most construction projects.
Scheduling overtime for more than several weeks can result in huge productivity losses.
...
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
Master Format and Uniformat

4. Proposal prepared by prospective contractor specifying the charges to be made for doing the work in accordance with the contract documents.
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps
Joist
Bid
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.

5. List the factors affecting labor productivity
Bid Bond
Erection
Both extreme hot and cold will tend to slow down the pace of work.
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions

6. Why do many contractors hesitate to bid just before the expiration of a union contract?
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.
Change Order
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 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.

7. The most reliable productivity rates come from historical data
Liens
True
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
Instruction to bidders

8. The substructure that supports a building or other structure.
Both extreme hot and cold will tend to slow down the pace of work.
The amount of work that can be done in an hour
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
Foundation

9. A sum withheld from each payment to the contractor in accordance with the terms of the owner-contractor agreement.
Retainage
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
Skilled labor and material portions
Scheduling overtime for more than several weeks can result in huge productivity losses.

10. What are the difficulties encountered by the estimator during the preparation of a project's conceptual estimate?
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.
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
Bid Bond
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire

11. The information provided in the General Conditions and Supplementary General Conditions does not influence the project cost.
Addenda
True
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
False

12. 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.
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
Internal Factor - External Factor - Project Related-Factor
Change Order
Punch List

13. 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
Both extreme hot and cold will tend to slow down the pace of work.
...
Liquidated Damages
Erection

14. A sum withheld from each payment to the contractor in accordance with the terms of the owner-contractor agreement.
True
The ability to procure the right piece of equipment for the job when the unit is needed
Retainage
...

15. What is estimating in construction?
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
Addenda
Direct Negotiation - Competitive Bidding

16. The equipment used on construction projects can be divided into three categories: Owned - leased - and rented.
True
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors

17. A surety bond guaranteeing that a bidder will sign a contract - if offered - in accordance with their proposal.
The Labor Hour
Bid Bond
Both extreme hot and cold will tend to slow down the pace of work.
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.

18. Explain firm price contracting estimates.
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
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
False
Lump-Sum Estimate - Unit Price Estimate

19. Describe the composition of the Construction Cost Index (CCI).
Scheduling overtime for more than several weeks can result in huge productivity losses.
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
Common labor and material portions
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.

20. What is the maintenance bond?
Bid Bond
...
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
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.

21. Name three common methods of procuring equipment.
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
The ability to procure the right piece of equipment for the job when the unit is needed
Renting - Leasing - Buying
Internal Factor - External Factor - Project Related-Factor

22. Working drawings - specifications - general conditions - supplementary general conditions - the owner-contractor agreement - and all addenda (if issued).
Contract Documents
Invitation to bid
Liquidated Damages
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate

23. What types of information are provided in the Invitation to 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
Punch List
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.
Scheduling overtime for more than several weeks can result in huge productivity losses.

24. How do climatic conditions influence the amount of work actually completed in an hour?
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.
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
Both extreme hot and cold will tend to slow down the pace of work.
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.

25. Describe and provide examples of specific use equipment and general use equipment.
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
Internal Factor - External Factor - Project Related-Factor
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
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.

26. How are the various surety bonds that may be required on a specific project obtained?
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.
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.
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.
Bid Bond

27. Describe and provide examples of specific use equipment and general use equipment.
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
Master Format and Uniformat
A gross unit such as the number of hospital beds is used.

28. Describe and provide examples of specific use equipment and general use equipment.
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps
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.
Foundation
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.

29. What does the labor hour represent?
Skilled labor and material portions
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 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.

30. Where would information be found on whether a bid bond was required and - if so - its amount?
Invitation to bid
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
Instruction to bidders

31. Explain why using overtime is not recommended for most construction projects.
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.
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
Scheduling overtime for more than several weeks can result in huge productivity losses.

32. stimating labor requires determining the number of work hours to do a specific task and then applying the wage rate.
Bid Bond
True
Instruction to bidders
Contract Documents

33. Construction estimating is more an art than a science
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps
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
...

34. A list prepared by the architect or engineer of the contractor's uncompleted work or work to be corrected.
Punch List
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
A gross unit such as the number of hospital beds is used.
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors

35. A good database of past project experiences is essential to preparing a quick and accurate estimate.
Invitation to bid
True
Foundation
Contract Documents

36. The location where material can be stored in relationship to the construction project affects productivity.
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.
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
True
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors

37. Construction estimating is more an art than a science
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.
The Labor Hour
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
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.

38. A bathroom sink
Joist
The ability to procure the right piece of equipment for the job when the unit is needed
As-built drawings
Lavatory

39. Name two systems that establish standards for the building design/construction estimating process.
Joist
Master Format and Uniformat
Bid Bond
Liens

40. On certain projects the owner may accept proposals only from contractors who are invited to bid.
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.
True
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.
Foundation

41. Operation costs include...
Liens
True
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above

42. What are the difficulties encountered by the estimator during the preparation of a project's conceptual estimate?
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
True
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.
Master Format and Uniformat

43. Why do many contractors hesitate to bid just before the expiration of a union contract?
Lavatory
Renting - Leasing - Buying
Both extreme hot and cold will tend to slow down the pace of work.
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.

44. What is the maintenance bond?
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
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 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.
As-built drawings

45. Describe and provide examples of specific use equipment and general use equipment.
Liquidated Damages
Liens
Bid Bond
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps

46. The information provided in the General Conditions and Supplementary General Conditions does not influence the project cost.
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
False
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
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

47. Assemblies Estimate...
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
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 estimator uses more detailed information such as the bay size - square feet of partition wall - number of plumbing fixtures - or square feet of carpet.
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.

48. Order of Magnitude Estimate...
Master Format and Uniformat
A gross unit such as the number of hospital beds is used.
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
Punch List

49. An invitation to a selected list of contractors furnishing information on the submission of bids on a subject.
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
Skilled labor and material portions
Invitation to bid

50. A surety bond guaranteeing that a bidder will sign a contract - if offered - in accordance with their proposal.
Bid Bond
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
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.
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