CM 1011 CHAPTER 6 TEST WITH ALL CORRECT &
VERIFIED ANSWERS (UPDATED TO PASS)
An estimate is Correct answer-an educated guess.
The estimate is a summary best on Correct answer-the best info available, of probable quantities
and costs of materials, labor, equipment, and subcontractors.
The estimate must be low enough to get the bid, but Correct answer-high enough to make a profit
off of.
The larger the project the more Correct answer-it is going to cost.
The larger the project is the more opportunity there is to Correct answer-increase efficiencies
around any particular activity.
Economy of scale Correct answer-is a proportionate saving in costs gained by an increased level of
production.
The complexity of the project and project details impacts Correct answer-productivity.
Complex projects are difficult because the require Correct answer-greater skills and/or more time.
Location impacts the availability and cost of Correct answer-labor.
Project location impacts the ease of procurement and Correct answer-delivery of materials, labor,
and equipment, and therefore it affects overall pricing of a project.
What is one of the factors that estimators must be aware of when putting together the numbers for a
project? Correct answer-Timing
There is always a time period between when a Correct answer-project bids and when the
construction actually starts.
There is also time between when a project starts and when Correct answer-it is anticipated to end.
The quality of the project is defined by Correct answer-the standards set forth in the specifications.
Construction contracts are scarce in very tight markets making Correct answer-the cost of
construction very competitive which will be reflected in condition.
Management factors include such things as Correct answer-knowing how difficult a certain owner
or architect may be.
When you have a difficult owner/architect you will need to Correct answer-watch things more
carefully with project.
Conceptual estimates are Correct answer-rough estimates and are often called ballpark estimates.
Conceptual estimates are used when Correct answer-you are in the concept stage of a project and
you are unaware if the project is economically feasible.
VERIFIED ANSWERS (UPDATED TO PASS)
An estimate is Correct answer-an educated guess.
The estimate is a summary best on Correct answer-the best info available, of probable quantities
and costs of materials, labor, equipment, and subcontractors.
The estimate must be low enough to get the bid, but Correct answer-high enough to make a profit
off of.
The larger the project the more Correct answer-it is going to cost.
The larger the project is the more opportunity there is to Correct answer-increase efficiencies
around any particular activity.
Economy of scale Correct answer-is a proportionate saving in costs gained by an increased level of
production.
The complexity of the project and project details impacts Correct answer-productivity.
Complex projects are difficult because the require Correct answer-greater skills and/or more time.
Location impacts the availability and cost of Correct answer-labor.
Project location impacts the ease of procurement and Correct answer-delivery of materials, labor,
and equipment, and therefore it affects overall pricing of a project.
What is one of the factors that estimators must be aware of when putting together the numbers for a
project? Correct answer-Timing
There is always a time period between when a Correct answer-project bids and when the
construction actually starts.
There is also time between when a project starts and when Correct answer-it is anticipated to end.
The quality of the project is defined by Correct answer-the standards set forth in the specifications.
Construction contracts are scarce in very tight markets making Correct answer-the cost of
construction very competitive which will be reflected in condition.
Management factors include such things as Correct answer-knowing how difficult a certain owner
or architect may be.
When you have a difficult owner/architect you will need to Correct answer-watch things more
carefully with project.
Conceptual estimates are Correct answer-rough estimates and are often called ballpark estimates.
Conceptual estimates are used when Correct answer-you are in the concept stage of a project and
you are unaware if the project is economically feasible.
