TCM 324 FINAL EXAM UPDATED ACTUAL QUESTIONS
AND CORRECT ANSWERS
Question:
1. Basic Estimating
Answer:
-Focus of the text
-Detailed analysis of work to be performed
-Type and quantity of work, type and size of equipment, and production rates
Question:
2. Workbook Estimating
Answer:
Performing a material quantity takeoff, obtaining unit costs from a price-book, and multiplying the
quantities by the unit costs to get a cost estimate
Question:
3. 4 phases of design
Answer:
- Programming phase (architect)
- Schematic design phase (0-30% complete)
- Design development phase (30-90% complete)
- Construction document phase (90-100% complete)
Question:
4. Conceptual Estimate
Answer:
- During the programming and schematic design phases
- 0-30% construction documents
- 10-20% accuracy
- Allows owners to make decisions about project feasibility
Question:
5. Semi Detailed Cost Estimates
Answer:
- During the design development and construction phases
- May include Assemblies cost estimates (budgets on materials)
- combination of detailed and conceptual techniques
- verify project scope and budget
Question:
6. Detailed Estimate
, Answer:
- Based on complete plans and specs
- Establishes a contractors final and best price for a project
- Includes a work breakdown and QTO
Question:
7. Direct Cost Examples
Answer:
- Concrete
- Rebar
- Subcontractors
- Labor men
Question:
8. Indirect Costs - Job Overhead
Answer:
- Job shack
- Super's salary
- Security fence
- Temporary office phone and electric
- Super's pickup
Question:
9. Indirect Costs - General Overhead
Answer:
- Home office salaries (president, vice, etc.)
- Home office rent, upkeep, utilities
- Legal, accounting, tech fees
Question:
10. Contingency
Answer:
addresses risk associated with the estimate after a risk analysis
Question:
11. Delivery Methods
Answer:
Design-Bid-Build (traditional hard bid) Construction Manager At Risk (open book process) Design-Build
(single source)
Question:
12. Material Pricing
Answer:
High degree of accuracy due to definable quantities, few variables beyond waste
Question:
13. Labor and Equipment Pricing
AND CORRECT ANSWERS
Question:
1. Basic Estimating
Answer:
-Focus of the text
-Detailed analysis of work to be performed
-Type and quantity of work, type and size of equipment, and production rates
Question:
2. Workbook Estimating
Answer:
Performing a material quantity takeoff, obtaining unit costs from a price-book, and multiplying the
quantities by the unit costs to get a cost estimate
Question:
3. 4 phases of design
Answer:
- Programming phase (architect)
- Schematic design phase (0-30% complete)
- Design development phase (30-90% complete)
- Construction document phase (90-100% complete)
Question:
4. Conceptual Estimate
Answer:
- During the programming and schematic design phases
- 0-30% construction documents
- 10-20% accuracy
- Allows owners to make decisions about project feasibility
Question:
5. Semi Detailed Cost Estimates
Answer:
- During the design development and construction phases
- May include Assemblies cost estimates (budgets on materials)
- combination of detailed and conceptual techniques
- verify project scope and budget
Question:
6. Detailed Estimate
, Answer:
- Based on complete plans and specs
- Establishes a contractors final and best price for a project
- Includes a work breakdown and QTO
Question:
7. Direct Cost Examples
Answer:
- Concrete
- Rebar
- Subcontractors
- Labor men
Question:
8. Indirect Costs - Job Overhead
Answer:
- Job shack
- Super's salary
- Security fence
- Temporary office phone and electric
- Super's pickup
Question:
9. Indirect Costs - General Overhead
Answer:
- Home office salaries (president, vice, etc.)
- Home office rent, upkeep, utilities
- Legal, accounting, tech fees
Question:
10. Contingency
Answer:
addresses risk associated with the estimate after a risk analysis
Question:
11. Delivery Methods
Answer:
Design-Bid-Build (traditional hard bid) Construction Manager At Risk (open book process) Design-Build
(single source)
Question:
12. Material Pricing
Answer:
High degree of accuracy due to definable quantities, few variables beyond waste
Question:
13. Labor and Equipment Pricing
