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What is estimation? - correct answer determining the size and duration of activities What is duration? - correct answer Elapsed time in business working day (or hours). Doesn't include weekends, holidays, What is work effort? - correct answer Labor required to complete a task. It can be consecutive or nonconsecutive hours. Do you estimate duration of effort? - correct answer Most of the time, you estimate duration and assume that employees exert an average effort....

Which approach to estimating is usually coordinated by a project manager/office and is a "roll up" of individual estimates from work breakdown structure elements? - correct answer Bottom up Good time and cost estimates are needed within project execution to allow a project manager to do which of the following? - correct answer Support decision making Monitor project progress Schedule work Why is past experience the best starting point for creating quality time and cost es...

Construction Cost Estimate - correct answer An approximation of the financial impact of a future project. Vary in accuracy, depending on the need; order of magnitude estimates are often used for budgeting purposes, while exact estimates are used to secure the funding necessary to complete the project. Highly Accurate Construction Cost Estimates - correct answer Take into account the actual equipment that will be used, all materials, labor, site preparation, acquisition costs, manage...

T or F When preparing an estimate, the importance of proper organization and structure cannot be overstated. - correct answer True T or F Labor rates for a company's employees are not overly important when estimating a project - correct answer False The ______________ views of a document set (the plans) are ideal for determining the composition of, or what is in, a wall . - correct answer Section T or F Workers' Compensation is an optional insurance that employers p...

types of construction projects - correct answer -Residential -Commercial and institutional buildings* -Heavy civil -Industrial "Aquisition process" - correct answer Refferes to finding and biding jobs AACE definition of cost estimating - correct answer ". . . a predictive process used to quantify, cost, and price the resources required by the scope of an investment option, activity, or project." " . . . a process used to predict uncertain future costs. I...

What are the 3 types of estimates - correct answer 1.) Conceptual 2.) Preliminary 3.) Detailed Advantages of Design-Bid-Build - correct answer Fully defined scope before bidding (Lowest bidding, competitive) Familiarity with Process The Design engineers/architects act asthe owner's agent during construction and Polices the General Contractor Estimating Needs for Design Bid Build (DBB) - correct answer Accurate Detailed estimates from completed documents Con...

We put together estimates everyday, with little or no calculations - correct answer True The different project delivery systems use the same types of estimates- conceptual, preliminary and detailed- at various stages in the development of a project - correct answer False With the design- build method, the owner indicates that he or she requires a certain facility and usually outlines some parameters relating to location, size, design and the desired time of occupancy. - correct a...

Round 1,250 to the nearest hundred - correct answer 1,300 Round 23.567 to the nearest tenth - correct answer 23.6 Round 675.247 to the nearest hundredth - correct answer 675.25 When there is a 5 in a number that you need to round what do you do? - correct answer Round up Is 1567 closer to 2000 or 1500? - correct answer 1500 What is the place value of 9 in the number 1,234,567.89? - correct answer hundredths What is the place value of 2 in the numbe...

Estimates - correct answer Approximation, projection or prediction of a quantity of work Detailed estimate of Construction Cost - correct answer forecast of construction cost prepared based on a detailed analysis of materials and labor for all items of work, as contrasted with an estimate based on current area, volume or similar unit costs Bill of Materials - correct answer Used to describe the materials, sub-components needed to manufacture a finished product Quantity su...

What is an estimate? - correct answer An approximation of a number based on reasonable assumptions When a questions says 'round to ..... decimal places', what does it mean? - correct answer The expected amount of decimal places in the answer What are significant figures (sig figs)? - correct answer Numbers used in measurement to determine precision of your measurement. Record all certain numbers and one uncertain number. When a questions says 'round to ....... si...

The components of an assembly may be limited to a single trade or may be installed by many different trades. - correct answer True The assembly and square-foot methods are typically used for preparing detailed estimates. - correct answer False When preparing a conceptual estimate, typically there are no drawings available or they drawings are very limited and the contractor makes assumptions about virtually every aspect of the project. - correct answer True Project compar...

What type of estimate is prepared by multiplying the square footage of a building by a cost per square foot? - correct answer Square-foot Estimate By taking off building elements in broad groups, this type of estimate can be prepared fairly quickly (in hours) with moderate accuracy: - correct answer Assembly Estimate Which of the following is NOT a component of a detailed estimate? - correct answer A/E Fee What is the formula for using location factors to adjust cost esti...

estimation is an _____ process - correct answer inferential estimation uses ___ statistics to estimate population parameters - correct answer sample point estimate uses ______ number to estimate unknown quantity - correct answer single point estimate is a ______ estimate - correct answer precise point estimate is not very ____ - correct answer accurate interval estimate uses _______ to estimate unknown quantity - correct answer ranges of values int...

an inferential technique of using sample statistics to estimate a population parameter - correct answer what is estimation? point estimate is taking a single value from the sample and using it to estimate the population parameter. the problem is that sampling error varies from point to point, so we can never know how accurate it is - correct answer what is point estimate and what is the major problem with it? a range of values that are used to estimate the population parameter - ...

Estimating - correct answer a. The key to a successfully conceived, managed, and completed project. b. Is not limited to the construction industry, but rather is a function common to a broad spectrum of projects in which cost and time must be managed. c. The estimate is the yardstick against which cost performance on a project is measured. i. Since time affects cost, the estimate of durations is also important and is usually considered con-currently with cost. Estimating -...

1 Exam (elaborations) (Exam 1) !notes on short answer questions and essay Verified And Accurate For Guaranteed Pass. 2 Exam (elaborations) Final Exam Essays Questions With All Complete And Verified Solutions. 3 Exam (elaborations) Comm 102: Final Exam Essay Questions And Answers Accurate Verified Solutions. 4 Exam (elaborations) Final Exam - Ess

steps to approaching an essay question - correct answer 1. Identify command terms 2. Identify content: What are you supposed to evaluate? 3. Identify relevant research studies: You should use two studies if "evaluating" 4. Evaluate your evidence: Identify the strengths and limitations of the studies you will use. 5. Directly answer the question: What do you need to do to answer the question? SAQ command terms - correct answer Define: You should write no more than one or tw...

Essay #2: Martin Luther King observed that President Johnson's desire to end poverty and provide economic opportunity for all Americans was "shot down on the battlefields of Vietnam." Do you agree with King's statement? why or why not? - correct answer The War on Poverty is the unofficial name for legislation first introduced by United States President Lyndon B. Johnson during his State of the Union address on Wednesday, January 8, 1964. This was part of his larger plan, called ...

Using as many words as you need answer the following question: Explain the relationship between culture and learning. Be sure to include ways of knowing in your response. Also, support your response with clear examples of two different cultural approaches to learning as part of your response. - correct answer Learning and culture are significant because we live in a globalized society with a melting pot of many different people who come from different ethnic backgrounds. In fact, on page th...

What is the difference between normative and positive theory? - correct answer Normative theory explain what should be and may/should happen in the future. Positive theory explains what is. It is based on observation of real life scenarios and looks at historical data. Explain how are accounting standards enforced in the US? - correct answer Many acts and measures are put in place to enforce accounting standards in the US. FASB, GASB, and GAAP are three boards that establish acco...