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Construction Estimating

Instructions:

Answer 50 questions in 15 minutes.
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Match each statement with the correct term.
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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. The substructure that supports a building or other structure.
True
Foundation
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.
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.

2. What does the labor hour represent?
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
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.
Lavatory

3. A surety bond guaranteeing that a bidder will sign a contract - if offered - in accordance with their proposal.
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
Instruction to bidders
...
Bid Bond

4. Proposal prepared by prospective contractor specifying the charges to be made for doing the work in accordance with the contract documents.
Instruction to bidders
Master Format and Uniformat
Bid
Direct Negotiation - Competitive Bidding

5. Where the project will be constructed does not have a major influence in the preparation of an estimate.
Scheduling overtime for more than several weeks can result in huge productivity losses.
Instruction to bidders
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
False

6. A document stating the procedures to be followed by bidders.
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.
Liens
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.

7. A document stating the procedures to be followed by bidders.
Instruction to bidders
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar 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.
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

8. The location where material can be stored in relationship to the construction project affects productivity.
Direct Negotiation - Competitive Bidding
True
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
Lavatory

9. What are the difficulties encountered by the estimator during the preparation of a project's conceptual estimate?
The amount of work that can be done in an hour
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
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
Lavatory

10. A surety bond guaranteeing that a bidder will sign a contract - if offered - in accordance with their proposal.
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.
Addenda
Bid Bond
Lavatory

11. 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.
Lump-Sum Estimate - Unit Price Estimate
The Labor Hour
Change Order
Bid Bond

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

13. List the factors affecting labor productivity
Foundation
Bid
Joist
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions

14. How do climatic conditions influence the amount of work actually completed in an hour?
Both extreme hot and cold will tend to slow down the pace of work.
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
As-built drawings
True

15. What are some of the costs that must be included in equipment operating costs?
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
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
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
Common labor and material portions

16. 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
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
Master Format and Uniformat
Liquidated Damages

17. How does insurance differ from a surety bond?
Bid Bond
The ability to procure the right piece of equipment for the job when the unit is needed
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.
True

18. Why do many contractors hesitate to bid just before the expiration of a union contract?
True
Master Format and Uniformat
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.

19. Working drawings - specifications - general conditions - supplementary general conditions - the owner-contractor agreement - and all addenda (if issued).
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
The amount of work that can be done in an hour
False
Contract Documents

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.
Addenda
Lump-Sum Estimate - Unit Price Estimate
True
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. What is the performance bond?
Punch List
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.
Invitation to bid
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.

22. What is retainage? Why should a contractor be concerned with a retainage clause in a contract?
Joist
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.
Master Format and Uniformat
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.

23. What are the benefits of renting equipment?
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.
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
The ability to procure the right piece of equipment for the job when the unit is needed
True

24. Describe the composition of the Building Cost Index (BCI).
Erection
Instruction to bidders
Skilled labor and material portions
Direct Negotiation - Competitive Bidding

25. A list prepared by the architect or engineer of the contractor's uncompleted work or work to be corrected.
Liquidated Damages
Scheduling overtime for more than several weeks can result in huge productivity losses.
Internal Factor - External Factor - Project Related-Factor
Punch List

26. Describe factors affecting the accuracy of detail cost estimating.
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
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
True
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs

27. Name the types of Estimates
...
Invitation to bid
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
Invitation to bid

28. Describe and provide examples of specific use equipment and general use equipment.
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
Direct Negotiation - Competitive Bidding
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
Change Order

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

30. Why do many contractors hesitate to bid just before the expiration of a union contract?
Lavatory
As-built drawings
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.
Renting - Leasing - Buying

31. What types of information are provided in the Invitation to 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.
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
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project

32. Closely spaced beams supporting a floor or ceiling.They may be wood - steel - or concrete.
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
Joist
False
True

33. The information provided in the General Conditions and Supplementary General Conditions does not influence the project cost.
True
The Labor Hour
False
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

34. Proposal prepared by prospective contractor specifying the charges to be made for doing the work in accordance with the contract documents.
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
Bid
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
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

35. An invitation to a selected list of contractors furnishing information on the submission of bids on a subject.
Liquidated Damages
Addenda
Invitation to bid
Change Order

36. The equipment used on construction projects can be divided into three categories: Owned - leased - and rented.
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.
True
Internal Factor - External Factor - Project Related-Factor
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate

37. What is the best source for productivity data?

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38. The substructure that supports a building or other structure.
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.
Joist
True
Foundation

39. The information provided in the General Conditions and Supplementary General Conditions does not influence the project cost.
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
False
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.

40. Construction estimating is more an art than a science
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
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
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. What are the two most common methods by which a contractor can acquire a construction contract?
Skilled labor and material portions
Direct Negotiation - Competitive Bidding
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
Erection

42. Order of Magnitude 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.
Lump-Sum Estimate - Unit Price Estimate
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
A gross unit such as the number of hospital beds is used.

43. Explain why using overtime is not recommended for most construction projects.
The amount of work that can be done in an hour
True
Scheduling overtime for more than several weeks can result in huge productivity losses.
True

44. Describe the CSI MasterFormat and how it is used.
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.
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
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.

45. 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
Instruction to bidders
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 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.

46. What is the maintenance bond?
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 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.
Punch List
Direct Negotiation - Competitive Bidding

47. What types of information are provided in the Invitation to Bid?
False
Skilled labor and material portions
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
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

48. 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.
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
Punch List
The ability to procure the right piece of equipment for the job when the unit is needed

49. Legal claims against an owner for amounts due those engaged in or supplying materials for the construction of the building.
Addenda
Liens
False
Foundation

50. 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
Renting - Leasing - Buying
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.
The Labor Hour

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Construction Estimating

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