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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. What is estimating in construction?
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps
Direct Negotiation - Competitive Bidding
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.

2. What types of information are provided in the Invitation to Bid?
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
True

3. 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.
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
The ability to procure the right piece of equipment for the job when the unit is needed
Lavatory

4. Describe factors affecting the accuracy of detail cost estimating.
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
Internal Factor - External Factor - Project Related-Factor
Invitation to bid

5. The most reliable productivity rates come from historical data
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.
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
True
Punch List

6. The assembly of components to form the completed portion of a job.
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.
Erection
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. Legal claims against an owner for amounts due those engaged in or supplying materials for the construction of the building.
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
Scheduling overtime for more than several weeks can result in huge productivity losses.
Liens

8. 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
The amount of work that can be done in an hour
Invitation to bid
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor

9. 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
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.
Liquidated Damages
Bid
Retainage

10. Where would information be found on whether a bid bond was required and - if so - its amount?
Joist
Lump-Sum Estimate - Unit Price Estimate
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
As-built drawings

11. What is estimating in construction?
True
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
False
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

12. The information provided in the General Conditions and Supplementary General Conditions does not influence the project cost.
False
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
Renting - Leasing - Buying
Skilled labor and material portions

13. 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.
The ability to procure the right piece of equipment for the job when the unit is needed
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
Change Order
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.

14. What is the bid bond and how does it protect the owner?
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
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
Retainage
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor

15. What unit of time is used to measure labor?
Direct Negotiation - Competitive Bidding
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
Bid Bond
The Labor Hour

16. 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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17. 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.
True
The amount of work that can be done in an hour
True
Addenda

18. The location where material can be stored in relationship to the construction project affects productivity.
True
Internal Factor - External Factor - Project Related-Factor
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.
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.

19. Where the project will be constructed does not have a major influence in the preparation of an estimate.
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.
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
True

20. Closely spaced beams supporting a floor or ceiling.They may be wood - steel - or concrete.
Joist
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 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
Instruction to bidders

21. Assemblies Estimate...
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
Scheduling overtime for more than several weeks can result in huge productivity losses.
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.
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions

22. On certain projects the owner may accept proposals only from contractors who are invited to bid.
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.
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
True
The amount of work that can be done in an hour

23. A sum withheld from each payment to the contractor in accordance with the terms of the owner-contractor agreement.
Retainage
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.
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
Joist

24. Describe the composition of the Construction Cost Index (CCI).
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 estimator uses more detailed information such as the bay size - square feet of partition wall - number of plumbing fixtures - or square feet of carpet.
Common labor and material portions
Change Order

25. A bathroom sink
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
Addenda
A gross unit such as the number of hospital beds is used.
Lavatory

26. A common error made by GCs in their dealings with subcontractors is to hand them a single technical specifications section relating to their trade - without copies of either the General Requirements or the General and Supplementary General Conditions
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
Bid
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
...

27. A common error made by GCs in their dealings with subcontractors is to hand them a single technical specifications section relating to their trade - without copies of either the General Requirements or the General and Supplementary General Conditions
Instruction to bidders
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
As-built drawings
...

28. A document stating the procedures to be followed by bidders.
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.
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
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.

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

30. 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.
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.
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
True

31. What is the best source for productivity data?

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32. What unit of time is used to measure labor?
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
True
The Labor Hour

33. The substructure that supports a building or other structure.
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
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.
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
Foundation

34. The information provided in the General Conditions and Supplementary General Conditions does not influence the project cost.
Master Format and Uniformat
False
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.

35. 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.
Contract Documents
The Labor 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.

36. What are the advantages to a small contractor of renting equipment instead of owning?
Lump-Sum Estimate - Unit Price Estimate
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.
Liquidated Damages
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire

37. Name three common methods of procuring equipment.
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.
Renting - Leasing - Buying
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
Foundation

38. What is depreciation?
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
The ability to procure the right piece of equipment for the job when the unit is needed
As-built drawings
False

39. A good database of past project experiences is essential to preparing a quick and accurate estimate.
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
Lump-Sum Estimate - Unit Price Estimate
True

40. What is the performance bond?
Renting - Leasing - Buying
A gross unit such as the number of hospital beds is used.
The ability to procure the right piece of equipment for the job when the unit is needed
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.

41. The substructure that supports a building or other structure.
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.
Internal Factor - External Factor - Project Related-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.
Foundation

42. What are some of the factors a contractor considers when making a decision to bid?
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
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
Internal Factor - External Factor - Project Related-Factor
...

43. Five basic skills everyone should master

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44. On certain projects the owner may accept proposals only from contractors who are invited to bid.
Instruction to bidders
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.
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs

45. What are the difficulties encountered by the estimator during the preparation of a project's conceptual 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
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
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

46. What are some of the factors a contractor considers when making a decision to bid?
Internal Factor - External Factor - Project Related-Factor
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.
Skilled labor and material portions
Liquidated Damages

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

48. What is the performance bond?
Invitation to 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.
Erection
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

49. What is the bid bond and how does it protect the owner?
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
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
Scheduling overtime for more than several weeks can result in huge productivity losses.
Skilled labor and material portions

50. How does insurance differ from a surety bond?
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 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.
Foundation
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.

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Construction Estimating

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