ARE 5.0 CONSTRUCTION & EVALUATION EXAM 2024

ARE 5.0 CONSTRUCTION & EVALUATION EXAM 2024 (3) ways cost estimates can be performed during Programming - correct answer 1. Unit cost system. 2. Historical data on similar types of projects. 3. Cost per square foot. Cost estimating method used during the Schematic Design - correct answer Preliminary (rough) estimates are based on pricing major elements, such as structural system selected and the MEP systems used. Cost estimating method used during the Design Development - correct answer Detailed pricing based on the actual components being considered, including windows, curtain walls, finishes and equipment. Cost estimating method used during the Construction Documents - correct answer Complete and final pricing of the project, based on direct quotes from suppliers, installers, sub-contractors and manufacturers. Requires great deal of effort and can only be done once nearly everything in the building has been specified. This pricing is a final check before construction begins/allows for revision to the design as needed to meet the budget. Factors that can have an effect on cost estimates - correct answer 1. Availability of labor & material, labor rates, material prices, resources to produce the material, convenience of transportation, location (more remote = more costly), less predictable costs of rural areas. 2. High Interest Rates = less housing construction = lower material prices Increased cost of living = increased union wages and higher labor costs Typical profit margin factored into the Construction Cost estimate - correct answer 15-20% for sm