ESTIMATING FINAL EXAM QUESTIONS AND CORRECT VERIFIED ANSWERS

ESTIMATING FINAL EXAM QUESTIONS
AND CORRECT VERIFIED ANSWERS
WeA2putA2togetherA2estimatesA2allA2theA2timeA2inA2ourA2everydayA2lives,A2oftenA2withA2little
A2orA2noA2calculating.A2-A2Ans--True


TheA2differentA2projectA2deliveryA2systemsA2useA2theA2sameA2typesA2ofA2estimates—
A2conceptual,A2preliminaryA2andA2detailed—
atA2variousA2stagesA2inA2theA2developmentA2ofA2theA2project.A2-A2Ans--False

WithA2theA2design-
A2buildA2method,A2theA2ownerA2indicatesA2thatA2heA2orA2sheA2requiresA2aA2certainA2facilityA2
andA2usuallyA2outlinesA2someA2parametersA2relatingA2toA2location,A2size,A2designA2andA2th
eA2desiredA2timeA2ofA2occupancy.A2-A2Ans--True

MostA2generalA2contractorsA2andA2subtradesA2enterA2intoA2cost-
plusA2contractsA2inA2orderA2toA2performA2aA2definedA2scopeA2ofA2work.A2-A2Ans--False

A(n)A2____A2inA2itsA2essenceA2isA2anA2assessmentA2ofA2theA2probableA2totalA2costA2ofA2so
meA2futureA2activity.A2-A2Ans--estimate

AA2____A2estimateA2hasA2toA2beA2preparedA2fromA2aA2minimumA2amountA2ofA2informationA
2becauseA2itA2isA2requiredA2atA2aA2timeA2whenA2theA2projectA2isA2oftenA2littleA2moreA2thanA2
aA2vagueA2ideaA2inA2theA2mindA2ofA2theA2owner.A2-A2Ans--conceptual

OnceA2theA2designA2ofA2aA2projectA2isA2underway,A2budgetA2amountsA2canA2beA2establish
edA2forA2theA2variousA2elementsA2ofA2theA2projectA2usingA2proceduresA2forA2aA2____A2esti
mate.A2-A2Ans--preliminary

UsingA2aA2constructionA2managementA2organizationA2seeksA2toA2facilitateA2overlapA2betw
eenA2projectA2stages,A2oftenA2referredA2toA2asA2____,A2toA2allowA2earlierA2completionA2ofA2
theA2project.A2-A2Ans--fastA2tracking

____A2contractsA2areA2usuallyA2theA2owner'sA2choiceA2ofA2lastA2resortA2becauseA2theyA2ca
nA2placeA2theA2ownerA2inA2aA2vulnerableA2financialA2position.A2-A2Ans--Cost-plus

____A2contractsA2areA2basedA2onA2aA2pricingA2scheduleA2thatA2consistsA2ofA2aA2breakdow
nA2ofA2theA2workA2andA2estimatedA2quantitiesA2forA2eachA2ofA2theA2itemsA2onA2theA2breakd
own.A2-A2Ans--Unit-price

TheA2basisA2ofA2aA2____A2isA2theA2accurateA2assessmentA2ofA2theA2workA2inA2theA2formA2of
A2aA2quantityA2takeoffA2thatA2canA2onlyA2beA2obtainedA2fromA2theA2fullA2designA2ofA2theA2pr
ojectA2-A2Ans--detailedA2estimate

, ConstructionA2groupsA2inA2majorA2citiesA2haveA2formedA2associationsA2orA2planA2serviceA2
centersA2whereA2bothA2publicA2andA2privateA2bodiesA2mayA2depositA2plansA2andA2specific
ationsA2ofA2projectsA2callingA2forA2bids.A2-A2Ans--True

InA2aA2closedA2bidA2systemA2theA2numberA2ofA2companiesA2invitedA2toA2bidA2isA2typicallyA2li
mitedA2toA2noA2moreA2thanA2tenA2contractorsA2whoA2areA2knownA2toA2theA2ownerA2orA2desi
gnersA2andA2whoA2meetA2theA2qualificationA2criteriaA2setA2byA2theA2owner.A2-A2Ans--False

AnA2effectiveA2wayA2toA2proceedA2withA2theA2planningA2ofA2estimatingA2operationsA2isA2ac
hievedA2byA2meansA2ofA2aA2simpleA2lineA2chartA2formA2ofA2timeA2schedule.A2-A2Ans--False

OnA2mostA2projectsA2generalA2contractorsA2requestA2twoA2completeA2setsA2ofA2bidA2docu
mentsA2forA2estimatingA2aA2project.A2-A2Ans--True

IfA2anA2estimatorA2doesA2notA2knowA2exactlyA2whatA2theA2computerA2isA2accomplishingA2in
A2theA2preparationA2ofA2anA2estimate,A2theA2estimatorA2willA2notA2beA2inA2controlA2ofA2theA2
process.A2-A2Ans--True

TheA2useA2ofA2faxA2machines,A2cellularA2telephones,A2andA2e-
mailA2hasA2hadA2littleA2impactA2onA2theA2biddingA2processA2asA2itA2isA2stillA2mostlyA2aA2man
ualA2process.A2-A2Ans--False

AgenciesA2ofA2theA2U.S.A2governmentA2useA2aA2standardA2formA2calledA2theA2"____"A2toA2
provideA2bidA2information.A2-A2Ans--Pre-SolicitationA2Notice

PrivateA2ownersA2oftenA2directlyA2inviteA2contractorsA2toA2bidA2onA2theirA2constructionA2pro
jectsA2inA2aA2systemA2knownA2asA2a(n)A2____A2system.A2-A2Ans--ClosedA2bid

AA2methodA2ofA2addressingA2theA2problemA2ofA2bidsA2fromA2contractorsA2ofA2questionable
A2financialA2situationA2andA2experienceA2capabilityA2isA2toA2callA2forA2bidsA2onlyA2fromA2___
_A2contractors.A2-A2Ans--prequalified

DesignersA2usuallyA2requireA2aA2cashA2orA2certifiedA2checkA2depositA2fromA2contractorsA2
whoA2obtainA2bidA2documentsA2andA2theA2depositA2isA2reimbursedA2whenA2theA2drawingsA
2andA2specificationsA2areA2returnedA2toA2theA2designer'sA2officeA2inA2"____."A2-A2Ans--
GoodA2order

AA2methodA2ofA2handlingA2theA2problemA2ofA2reviewA2questionsA2isA2toA2compileA2aA2listA2o
fA2allA2theA2questionsA2thatA2arise,A2theA2____,A2thenA2laterA2makeA2aA2singleA2callA2toA2the
A2designerA2toA2coverA2allA2theA2itemsA2thatA2haveA2accumulated.A2-A2Ans--queryA2list


SignificantA2detailsA2providedA2inA2responseA2toA2questionsA2aboutA2aA2bidA2willA2beA2incor
poratedA2intoA2writtenA2documentsA2thatA2areA2distributedA2toA2allA2biddersA2inA2publicatio
nsA2thatA2areA2knownA2asA2____.A2-A2Ans--addenda