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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. A bathroom sink
Lavatory
The ability to procure the right piece of equipment for the job when the unit is needed
Skilled labor and material portions
True

2. The assembly of components to form the completed portion of a job.
Erection
False
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
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.

3. What types of information are provided in the Invitation to Bid?
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
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 bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.

4. What are some of the factors a contractor considers when making a decision to bid?
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
Internal Factor - External Factor - Project Related-Factor
The ability to procure the right piece of equipment for the job when the unit is needed
Direct Negotiation - Competitive Bidding

5. What is estimating in construction?
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
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
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.
Lump-Sum Estimate - Unit Price Estimate

6. 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.
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
True
Addenda
True

7. Describe and provide examples of specific use equipment and general use equipment.
As-built drawings
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps
Skilled labor and material portions
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate

8. Where would information be found on whether a bid bond was required and - if so - its amount?
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.
Change Order
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.

9. How are the various surety bonds that may be required on a specific project obtained?
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.
Lavatory
Instruction to bidders
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.

10. What are some of the costs that must be included in equipment operating costs?
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.
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.

11. What are some of the factors a contractor considers when making a decision to bid?
Lump-Sum Estimate - Unit Price Estimate
Skilled labor and material portions
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
Internal Factor - External Factor - Project Related-Factor

12. stimating labor requires determining the number of work hours to do a specific task and then applying the wage rate.
Master Format and Uniformat
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
Lavatory
True

13. What unit of time is used to measure labor?
Lavatory
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 loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
The Labor Hour

14. What are the difficulties encountered by the estimator during the preparation of a project's conceptual estimate?
Erection
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
Bid

15. Working drawings - specifications - general conditions - supplementary general conditions - the owner-contractor agreement - and all addenda (if issued).
Contract Documents
Internal Factor - External Factor - Project Related-Factor
Erection
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work

16. What is the best source for productivity data?

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17. Where the project will be constructed does not have a major influence in the preparation of an estimate.
Foundation
False
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.
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

18. What is estimating in construction?
The ability to procure the right piece of equipment for the job when the unit is needed
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
Skilled labor and material portions

19. Name three common methods of procuring equipment.
Renting - Leasing - Buying
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
Bid
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.

20. Describe the CSI MasterFormat and how it is used.
True
Erection
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
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.

21. What are some of the costs that must be included in equipment operating costs?
Lump-Sum Estimate - Unit Price Estimate
True
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
Renting - Leasing - Buying

22. 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
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
True
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
Liquidated Damages

23. Operation costs include...
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.
Lavatory
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
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

24. The information provided in the General Conditions and Supplementary General Conditions does not influence the project cost.
Joist
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
True
False

25. Assemblies Estimate...
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.
Lavatory
Instruction to bidders
Liens

26. A good database of past project experiences is essential to preparing a quick and accurate estimate.
True
Retainage
Bid Bond
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.

27. 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
Foundation
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
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors

28. What does the labor hour represent?
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
As-built drawings
The amount of work that can be done 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.

29. Describe the CSI MasterFormat and how it is used.
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
Bid Bond
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 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.

30. What unit of time is used to measure labor?
Internal Factor - External Factor - Project Related-Factor
The Labor Hour
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
True

31. A document stating the procedures to be followed by bidders.
Instruction to bidders
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
...
The amount of work that can be done in an hour

32. What are the two most common methods by which a contractor can acquire a construction contract?
The ability to procure the right piece of equipment for the job when the unit is needed
Direct Negotiation - Competitive Bidding
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 bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.

33. Under what conditions are wage premiums applied
The amount of work that can be done in an hour
Joist
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
False

34. 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
A gross unit such as the number of hospital beds is used.
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
Renting - Leasing - Buying

35. A bathroom sink
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
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.
Lavatory
Invitation to bid

36. What is the performance bond?
Liens
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
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.
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

37. The information provided in the General Conditions and Supplementary General Conditions does not influence the project cost.
...
Renting - Leasing - Buying
False
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.

38. An invitation to a selected list of contractors furnishing information on the submission of bids on a subject.
Addenda
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.
Bid Bond
Invitation to bid

39. A good database of past project experiences is essential to preparing a quick and accurate estimate.
True
Lump-Sum Estimate - Unit Price Estimate
Bid
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above

40. What does the labor hour represent?
Erection
The amount of work that can be done in an hour
True
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire

41. How do climatic conditions influence the amount of work actually completed in an hour?
As-built drawings
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.
Both extreme hot and cold will tend to slow down the pace of work.
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.

42. A list prepared by the architect or engineer of the contractor's uncompleted work or work to be corrected.
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
Punch List
Change Order

43. How does insurance differ from a surety 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.
Bid Bond
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors

44. What are the benefits of renting equipment?
Common labor and material portions
The ability to procure the right piece of equipment for the job when the unit is needed
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.

45. Five basic skills everyone should master

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46. Name two systems that establish standards for the building design/construction estimating process.
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
Master Format and Uniformat
Addenda

47. Construction estimating is more an art than a science
Lavatory
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
Liquidated Damages
As-built drawings

48. 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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49. 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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50. 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
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
Liquidated Damages
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
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.

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Construction Estimating

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