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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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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. What is estimating in construction?
The Labor Hour
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
Liens
Renting - Leasing - Buying

2. What are some of the factors a contractor considers when making a decision to bid?
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
As-built drawings
Internal Factor - External Factor - Project Related-Factor

3. Explain why using overtime is not recommended for most construction projects.
Bid Bond
Scheduling overtime for more than several weeks can result in huge productivity losses.
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 loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence

4. Legal claims against an owner for amounts due those engaged in or supplying materials for the construction of the building.
Skilled labor and material portions
Liens
As-built drawings
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.

5. Operation costs include...
True
The amount of work that can be done in an hour
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
Lavatory

6. Why do many contractors hesitate to bid just before the expiration of a union contract?
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
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 bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
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.

7. The substructure that supports a building or other structure.
Punch List
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
Foundation
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions

8. The information provided in the General Conditions and Supplementary General Conditions does not influence the project cost.
Master Format and Uniformat
Renting - Leasing - Buying
False
Skilled labor and material portions

9. A document stating the procedures to be followed by bidders.
Bid
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
The Labor Hour
Instruction to bidders

10. Describe the composition of the Building Cost Index (BCI).
Skilled labor and material portions
Lump-Sum Estimate - Unit Price Estimate
Invitation to bid
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.

11. What is the bid bond and how does it protect the owner?
Skilled labor and material portions
True
Common labor and material portions
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. Where would information be found on whether a bid bond was required and - if so - its amount?
Punch List
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
Punch List
False

13. What is the maintenance bond?
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a 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
Lavatory

14. What types of information are provided in the Invitation to Bid?
The ability to procure the right piece of equipment for the job when the unit is needed
Liquidated Damages
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 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.

15. Describe and provide examples of specific use equipment and general use equipment.
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
True
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work

16. Order of Magnitude Estimate...
A gross unit such as the number of hospital beds is used.
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 most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
Common labor and material portions

17. Under what conditions are wage premiums applied
Change Order
As-built drawings
True
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.

18. The assembly of components to form the completed portion of a job.
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
Erection
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
Retainage

19. A bathroom sink
Joist
Lavatory
Instruction to bidders
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs

20. What types of information are provided in the 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.
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
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. Legal claims against an owner for amounts due those engaged in or supplying materials for the construction of the building.
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
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors

22. 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 estimator uses more detailed information such as the bay size - square feet of partition wall - number of plumbing fixtures - or square feet of carpet.
Change Order
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

23. Describe the CSI MasterFormat and how it is used.
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.
Common labor and material portions
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work

24. A document stating the procedures to be followed by bidders.
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
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 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

25. What is retainage? Why should a contractor be concerned with a retainage clause in a contract?
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.
Change Order
True
Liens

26. What are the benefits of renting equipment?
The ability to procure the right piece of equipment for the job when the unit is needed
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps
True
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor

27. The information provided in the General Conditions and Supplementary General Conditions does not influence the project cost.
False
Instruction to bidders
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
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.

28. What are the two most common methods by which a contractor can acquire a construction contract?
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.
Direct Negotiation - Competitive Bidding
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.

29. Name the types of Estimates
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.
True
As-built drawings

30. Drawings made during the progress of construction - or subsequent thereto - illustrating how various elements of the project were actually installed.
False
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps
As-built drawings
The ability to procure the right piece of equipment for the job when the unit is needed

31. Name two systems that establish standards for the building design/construction estimating process.
True
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
Master Format and Uniformat
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions

32. What is the best source for productivity data?

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33. What are the advantages to a small contractor of renting equipment instead of owning?
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
Instruction to bidders
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
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.

34. How does insurance differ from a surety bond?
Scheduling overtime for more than several weeks can result in huge productivity losses.
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps
Lump-Sum Estimate - Unit Price Estimate
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.

35. 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.
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
Liens
Liquidated Damages

36. Proposal prepared by prospective contractor specifying the charges to be made for doing the work in accordance with the contract documents.
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.
Both extreme hot and cold will tend to slow down the pace of work.
False
Bid

37. What is the bid bond and how does it protect the owner?
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
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
Skilled labor and material portions
True

38. What are some of the factors a contractor considers when making a decision to bid?
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
Internal Factor - External Factor - Project Related-Factor
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
Foundation

39. What are some of the costs that must be included in equipment operating costs?
The Labor Hour
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
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.
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.

40. Operation costs include...
False
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire

41. Five basic skills everyone should master

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42. A sum withheld from each payment to the contractor in accordance with the terms of the owner-contractor agreement.
Retainage
False
Erection
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above

43. Name 10 step process to bid

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44. Drawings made during the progress of construction - or subsequent thereto - illustrating how various elements of the project were actually installed.
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
As-built drawings
True
...

45. 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
True
Liquidated Damages
Master Format and Uniformat
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors

46. stimating labor requires determining the number of work hours to do a specific task and then applying the wage rate.
...
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
True

47. The most reliable productivity rates come from historical data
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.
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
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

48. Five basic skills everyone should master

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49. Name three common methods of procuring equipment.
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 most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
Renting - Leasing - Buying
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions

50. What is estimating in construction?
The amount of work that can be done in an hour
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
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
As-built drawings

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