CM 3111 Chapter 4 Questions and
Answers
estimates - Answer if the ____ are too high, the resulting bid is too high and the company may
lose work that it otherwise might have won.
estimates - Answer if the _____ are too low, the company may win work that it cannot
complete and make a reasonable profit on, or worse yet, it may lose money on the project
estimator - Answer no other employee in the construction company has as great of an impact
on the success and profitability of the construction company as the _____ . Many people are
counting on him or her to win profitable work so they can have stable employment.
organization - Answer the _____ required for an estimate includes a plan for completing the
estimate and maintaining complete and up-to-date files. it must include a complete breakdown
of costs for the project, both of work done by company forces (in-house) and of work done by
subcontractors.
notebook - Answer a _____ should be kept for each estimate prepared and should be broken
down into several areas: the workup sheets, summary sheets, errors and omissions sheets,
proposals received from subcontractors, proposals received from material suppliers and
manufacturers representatives, and notes pertaining to the project.
accuracy - Answer the _____ required must be in the range of 98 to 99 percent for all major
items on the estimate.
small - Answer in ____ companies, the estimate is often prepared by a single person who may
be responsible for both preparing the estimate and managing the project
large - Answer in ____ companies, the estimate may be prepared by a team of estimators
whose only function is to prepare the estimates
planning the estimate - Answer 1. review construction documents and visit site
2. divide into work packages
3. schedule the estimate
4. quantity takeoff
work packages - Answer once the estimator has reviewed the construction documents and
visited the site, he or she should have enough of an understanding of the project to divide it
Answers
estimates - Answer if the ____ are too high, the resulting bid is too high and the company may
lose work that it otherwise might have won.
estimates - Answer if the _____ are too low, the company may win work that it cannot
complete and make a reasonable profit on, or worse yet, it may lose money on the project
estimator - Answer no other employee in the construction company has as great of an impact
on the success and profitability of the construction company as the _____ . Many people are
counting on him or her to win profitable work so they can have stable employment.
organization - Answer the _____ required for an estimate includes a plan for completing the
estimate and maintaining complete and up-to-date files. it must include a complete breakdown
of costs for the project, both of work done by company forces (in-house) and of work done by
subcontractors.
notebook - Answer a _____ should be kept for each estimate prepared and should be broken
down into several areas: the workup sheets, summary sheets, errors and omissions sheets,
proposals received from subcontractors, proposals received from material suppliers and
manufacturers representatives, and notes pertaining to the project.
accuracy - Answer the _____ required must be in the range of 98 to 99 percent for all major
items on the estimate.
small - Answer in ____ companies, the estimate is often prepared by a single person who may
be responsible for both preparing the estimate and managing the project
large - Answer in ____ companies, the estimate may be prepared by a team of estimators
whose only function is to prepare the estimates
planning the estimate - Answer 1. review construction documents and visit site
2. divide into work packages
3. schedule the estimate
4. quantity takeoff
work packages - Answer once the estimator has reviewed the construction documents and
visited the site, he or she should have enough of an understanding of the project to divide it
