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Construction Estimating

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Answer 50 questions in 15 minutes.
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1. stimating labor requires determining the number of work hours to do a specific task and then applying the wage rate.
Bid Bond
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
True
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor

2. Legal claims against an owner for amounts due those engaged in or supplying materials for the construction of the building.
Liens
Common labor and material portions
False
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.

3. A list prepared by the architect or engineer of the contractor's uncompleted work or work to be corrected.
False
Instruction to bidders
True
Punch List

4. What is retainage? Why should a contractor be concerned with a retainage clause in a contract?
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
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.
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs

5. Name 10 step process to bid

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6. The location where material can be stored in relationship to the construction project affects productivity.
Instruction to bidders
True
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.
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project

7. Why do many contractors hesitate to bid just before the expiration of a union contract?
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
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.

8. Name three common methods of procuring equipment.
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
Liens
Renting - Leasing - Buying
The Labor Hour

9. 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
...
Direct Negotiation - Competitive Bidding
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
Lump-Sum Estimate - Unit Price Estimate

10. Describe the CSI MasterFormat and how it is used.
True
Addenda
Lump-Sum Estimate - Unit Price 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.

11. How do climatic conditions influence the amount of work actually completed in an hour?
Lavatory
Addenda
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
Both extreme hot and cold will tend to slow down the pace of work.

12. The substructure that supports a building or other structure.
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
Foundation
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate

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

14. Explain why using overtime is not recommended for most construction projects.
Retainage
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
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
Scheduling overtime for more than several weeks can result in huge productivity losses.

15. What are the advantages to a small contractor of renting equipment instead of owning?
Contract Documents
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
Common labor and material portions

16. Describe the composition of the Construction Cost Index (CCI).
Liquidated Damages
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
Common labor and material portions
Scheduling overtime for more than several weeks can result in huge productivity losses.

17. Working drawings - specifications - general conditions - supplementary general conditions - the owner-contractor agreement - and all addenda (if issued).
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
Addenda
Liens
Contract Documents

18. What is the maintenance bond?
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.
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

19. Describe factors affecting the accuracy of detail cost estimating.
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
Master Format and Uniformat
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.

20. Name 10 step process to bid

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21. Describe factors affecting the accuracy of detail cost estimating.
Addenda
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
False
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs

22. List the factors affecting labor productivity
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
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.

23. Closely spaced beams supporting a floor or ceiling.They may be wood - steel - or concrete.
Lump-Sum Estimate - Unit Price 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.
Joist
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.

24. What are the two most common methods by which a contractor can acquire a construction contract?
The amount of work that can be done in an hour
Direct Negotiation - Competitive Bidding
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.
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above

25. 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
Foundation
As-built drawings

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
...
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
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 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. Closely spaced beams supporting a floor or ceiling.They may be wood - steel - or concrete.
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.
Common labor and material portions
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
Joist

28. Explain firm price contracting estimates.
Liquidated Damages
Lump-Sum Estimate - Unit Price Estimate
True
Skilled labor and material portions

29. Name two systems that establish standards for the building design/construction estimating process.
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
Punch List
Master Format and Uniformat
Common labor and material portions

30. 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.
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
Change Order
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

31. What unit of time is used to measure labor?
Master Format and Uniformat
The Labor Hour
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

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

33. Explain why using overtime is not recommended for most construction projects.
Scheduling overtime for more than several weeks can result in huge productivity losses.
True
...
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire

34. What is depreciation?
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.
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence

35. The most reliable productivity rates come from historical data
True
...
Common labor and material portions
Erection

36. Order of Magnitude Estimate...
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
A gross unit such as the number of hospital beds is used.
Bid
True

37. 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
Instruction to bidders
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
Liquidated Damages
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.

38. List the factors affecting labor productivity
Lavatory
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
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.

39. Describe the composition of the Building Cost Index (BCI).
Liquidated Damages
Common labor and material portions
Invitation to bid
Skilled labor and material portions

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

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

42. Describe and provide examples of specific use equipment and general use equipment.
Punch List
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
Foundation

43. stimating labor requires determining the number of work hours to do a specific task and then applying the wage rate.
True
Master Format and Uniformat
The Labor Hour
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs

44. The assembly of components to form the completed portion of a job.
Liens
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
Erection
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps

45. Operation costs include...
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
Skilled labor and material portions
Joist
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.

46. What does the labor hour represent?
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.
Invitation to bid
The amount of work that can be done in an hour
False

47. A surety bond guaranteeing that a bidder will sign a contract - if offered - in accordance with their proposal.
Scheduling overtime for more than several weeks can result in huge productivity losses.
False
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

48. What is estimating in construction?
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
The amount of work that can be done in an hour
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.

49. Five basic skills everyone should master

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50. What are some of the costs that must be included in equipment operating costs?
True
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence

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