EXAC – COSTING UPDATED ACTUAL
Exam Questions and CORRECT Answers
Value Analysis or Value Engineering is part of architectural scope of services - CORRECT
ANSWER - no, Sometimes a project will be subjected to value analysis or value
engineering. This service is not a basic service of the architect
which project delivery method is better suited for value engineering - CORRECT
ANSWER - design-build - because the aim of the design builder is to finish the
construction with minimum requirements to satisfy at the time of delivery.
what are the possible outcome of value engineering - CORRECT ANSWER - This
approach can sometimes result in the substitution of inferior or inappropriate products, simply
because they are cheaper, however, this is not true value engineering but rather cost-cutting. In
these circumstances, the architect must be informed and given the opportunity to advise the
owner on the
consequences of the proposed changes.
at what stage of design the value analysis should be done. - CORRECT ANSWER - earlier
stages, predesign and schematic design stages.
The success of any cost estimation method depends on ? - CORRECT ANSWER - -the
reliability of the raw historic data:
-the ability to adjust the data to suit the characteristics of the new project and to market
conditions;
-the similarity of the new project in as many ways as possible to the examples from which data
are available;
-the extent to which the analysis is broken down into a large number of small components,
instead of a few large unit headings.
Classes of Cost Estimates - class D budget is put together in which stage of design. - CORRECT
ANSWER - during functional programming phase of the project, it is based on the
functional program and historic data;
, adjusted to take into account assumptions regarding inflation, location, risk, quality, size and
project timing;
a rough order of magnitude.
classes of cost estimate - Class C estimate? - CORRECT ANSWER - Schematic design -
prepared at an early stage in the project,
when drawings are preliminary in nature;
based on:
type of construction;
quantities of materials; includes all assumptions or qualifications to the estimate;
includes a relatively large design contingency allowance which is used to provide for changes in
scope and because information is more limited.
Cost Estimate Class B: - CORRECT ANSWER - design development stages -
the estimating process is repeated when additional specification and drawing information
becomes available, using an expanded format under the original headings;
the reduction in uncertainty made possible by better information from the design team allows for
a reduced design contingency allowance.
cost estimate - class A - CORRECT ANSWER - Construction Documentation
as the construction documents become more complete, the process continues and the
contingency allowance is reduced further.
Advantages:
-the most reliable method if undertaken carefully from the start;
-well-suited when cost advice is being supplied to the architect by contractor/construction
managers and suppliers;
-the information stays current and relevant throughout pre-construction;
-project leaders can build up a history of, and the knowledge and skills for, cost estimating —
especially if building projects are similar within the architectural practice.
Exam Questions and CORRECT Answers
Value Analysis or Value Engineering is part of architectural scope of services - CORRECT
ANSWER - no, Sometimes a project will be subjected to value analysis or value
engineering. This service is not a basic service of the architect
which project delivery method is better suited for value engineering - CORRECT
ANSWER - design-build - because the aim of the design builder is to finish the
construction with minimum requirements to satisfy at the time of delivery.
what are the possible outcome of value engineering - CORRECT ANSWER - This
approach can sometimes result in the substitution of inferior or inappropriate products, simply
because they are cheaper, however, this is not true value engineering but rather cost-cutting. In
these circumstances, the architect must be informed and given the opportunity to advise the
owner on the
consequences of the proposed changes.
at what stage of design the value analysis should be done. - CORRECT ANSWER - earlier
stages, predesign and schematic design stages.
The success of any cost estimation method depends on ? - CORRECT ANSWER - -the
reliability of the raw historic data:
-the ability to adjust the data to suit the characteristics of the new project and to market
conditions;
-the similarity of the new project in as many ways as possible to the examples from which data
are available;
-the extent to which the analysis is broken down into a large number of small components,
instead of a few large unit headings.
Classes of Cost Estimates - class D budget is put together in which stage of design. - CORRECT
ANSWER - during functional programming phase of the project, it is based on the
functional program and historic data;
, adjusted to take into account assumptions regarding inflation, location, risk, quality, size and
project timing;
a rough order of magnitude.
classes of cost estimate - Class C estimate? - CORRECT ANSWER - Schematic design -
prepared at an early stage in the project,
when drawings are preliminary in nature;
based on:
type of construction;
quantities of materials; includes all assumptions or qualifications to the estimate;
includes a relatively large design contingency allowance which is used to provide for changes in
scope and because information is more limited.
Cost Estimate Class B: - CORRECT ANSWER - design development stages -
the estimating process is repeated when additional specification and drawing information
becomes available, using an expanded format under the original headings;
the reduction in uncertainty made possible by better information from the design team allows for
a reduced design contingency allowance.
cost estimate - class A - CORRECT ANSWER - Construction Documentation
as the construction documents become more complete, the process continues and the
contingency allowance is reduced further.
Advantages:
-the most reliable method if undertaken carefully from the start;
-well-suited when cost advice is being supplied to the architect by contractor/construction
managers and suppliers;
-the information stays current and relevant throughout pre-construction;
-project leaders can build up a history of, and the knowledge and skills for, cost estimating —
especially if building projects are similar within the architectural practice.
