ECU CMGT 4000 (Estimating) final Thomas-
Questions with Correct Answers
Building a construction estimate is the determination of what
Probable construction cost of any given project
What are the types of estimates
Detailed
Assembly
Square Foot
Model
Parametric
What are the advantages of a Square foot estimate
Quickest
Used to get a rough idea of cost
What are the disadvantages of a Square foot bid
Numbers must be very similar to what is being built
Cannot be relied upon to submit a Bona Fide bid
Where are Assembly bids most commonly used
For single trade estimates
What is an example of an Assembly bid
,A $75 light pole switch installed includes: gang box light switch two wire nuts, cover plate, 20'
of 12 ga wire
What does a Detailed Estimate include
Quantities and cost of everything required to complete the project
Who needs to know how to estimate
Project managers
Job foremen
Architects
Engineers
GCs
Subs
Material Supplier
What skills are needed to do quantity takeoffs
Ability to:
Read and Quantify plans
Have a basic understanding of math and geometry
Good patience
Able to do careful work
Computer literate
What skills are needed to be an estimator
, Quantity takeoff skills
Ability to visualize whole project
Good knowledge of job condition
Knowledge to convert labor and productivity into cost of a project
Keep DATA BASE OF COST FOR FUTURE REFERENCE
Skills in computer spread sheets and databases
Be calm in the storm
Good writing a presentation skills
What is the BEST source of information for bidding
Your Own Historical Data
What are some of the Contract Documents
Scope of work
Time of completion
Contract Sum
Progress Payments
Retained percent
Acceptance and Final payment
What is an Owner-Contractor Agreement
A Formal agreement. incorporates by reference all other contract documents
What do progress payments cover
Questions with Correct Answers
Building a construction estimate is the determination of what
Probable construction cost of any given project
What are the types of estimates
Detailed
Assembly
Square Foot
Model
Parametric
What are the advantages of a Square foot estimate
Quickest
Used to get a rough idea of cost
What are the disadvantages of a Square foot bid
Numbers must be very similar to what is being built
Cannot be relied upon to submit a Bona Fide bid
Where are Assembly bids most commonly used
For single trade estimates
What is an example of an Assembly bid
,A $75 light pole switch installed includes: gang box light switch two wire nuts, cover plate, 20'
of 12 ga wire
What does a Detailed Estimate include
Quantities and cost of everything required to complete the project
Who needs to know how to estimate
Project managers
Job foremen
Architects
Engineers
GCs
Subs
Material Supplier
What skills are needed to do quantity takeoffs
Ability to:
Read and Quantify plans
Have a basic understanding of math and geometry
Good patience
Able to do careful work
Computer literate
What skills are needed to be an estimator
, Quantity takeoff skills
Ability to visualize whole project
Good knowledge of job condition
Knowledge to convert labor and productivity into cost of a project
Keep DATA BASE OF COST FOR FUTURE REFERENCE
Skills in computer spread sheets and databases
Be calm in the storm
Good writing a presentation skills
What is the BEST source of information for bidding
Your Own Historical Data
What are some of the Contract Documents
Scope of work
Time of completion
Contract Sum
Progress Payments
Retained percent
Acceptance and Final payment
What is an Owner-Contractor Agreement
A Formal agreement. incorporates by reference all other contract documents
What do progress payments cover
