Deck 9: Estimating Project Costs

Question 1

Which of the following types of estimates would a contractor most likely use to bid a project?

A) Square foot
B) Unit price
C) Systems
D) Conceptual
E) Aggregate

Answer 1

Unit price

Question 2

Which of the following best defines learning curve?

A) Repetition is inversely related to productivity.
B) Productivity increases as repetitions increase.
C) Worker productivity is a constant.
D) Productivity decreases as the size of a project increases.
E) None of the above

Answer 2

Productivity increases as repetitions increase.

Question 3

When adjusting an estimate for time and location, the adjustment for location must be made first.

Answer 3

False

Question 4

The amount of profit a bidder includes is a factor of ????

A) Extent of perceived risk
B) Level of expected competition
C) Project duration
D) The particular client
E) All of the above

Question 5

As an estimate progresses from conceptual to detailed, it takes longer to prepare and becomes less accurate.

Question 6

The value of the quality to the owner ????as the design quality of a project increases.

A) Increases at a decreasing rate
B) Increases at an increasing rate
C) Increases at a constant rate
D) Decreases
E) Does not change

Question 7

An index measures change with respect to an established baseline.

Question 8

Overhead burden is greatest on which of the following cost categories?

A) In-house material
B) In-house labor
C) In-house equipment
D) Subcontractor
E) Overhead is applied equally to all cost categories

Question 9

The Masterformat specification format, as compared to the Uniformat, better reflects the manner in which a project is built.

Question 10

The level of contingency applied to a project should ????as the project moves towards completion.

A) Increase
B) Decrease
C) Remain constant