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ExAC Exam 1 > 4 Cost Management > Flashcards

4 Cost Management Flashcards

1
Q

01 - What are the 8 main factors influencing cost?

A 
1 - Economic + Political 
2 - Env. 
3 - Building Type 
4 - Owner / Client 
5 - Proj. Rqrmts 
6 - Proj. Delivery 
7 - Owner Timetable 
8 - Other
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2
Q

02 - What about an economic / political climate might influence costing? (4)

A

1 - Inflation (follow trends / carry allowance)
2 - Market Conditions (ex: low demand = high cost)
3 - Other (unions, exchange rates..)
4 - Political and Social Climate (ex: approval often affected by election timing)

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3
Q

03 - How might Environmental factors influence cost? (3)

A

1 - Site Characteristics (ex: adj. buildings, odd topo or soil, contamination or removal)
2 - Weather / Season (ex: Hoarding = $$$)
3 - Location (ex:urban = $$$ vs suburban and remote=$$$)

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4
Q

04 - How might Characteristics of client owner influence cost? (2 examples)

A 
$COMMERCIAL / INDUSTRIAL DEVELOPERS
- expect at or below budget targets
 \$\$$INSTITUTIONAL
- bureaucratic
- high standards for long life
- not competitive
- complex bidding
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5
Q

05 - How might the project requirements (Functional Program) influence cost? (3)

A
  • Review program prior to confirmation
  • CHANGEs may occur due to POLICY / STAFFING STRUCTURE of org.
  • arch. must make client aware of additional fees after review
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6
Q

06 - How might the type of construction delivery influence cost? (main 4)

A

1 - Stipulated Price Contract (Design Bid Build)
• price known before build but many ‘extras’ (changes)
2 - Construction Management
• adds $ for another consultant (and redundancy in services may occur)
• but provides careful monitoring of costs
3 - Design Build
• cost benefit analysis done early
• owner commits to program early
4 - Public Private Partnership (P3)
• ‘best value’ not always achieved (low cost = driver )
• shifts risk to private sector

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7
Q

07 - How might the BUILDING TYPE + DESIGN influence cost? (main 4)

A

1 - simple wood residential or complex steel hospital
2 - construction method
3 - planned life of structure
4 - height / finishes

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8
Q

08 - What sort of REGULATIONS might influence cost? (3 examples)

A
  • several occupancies
  • REMEDIATION standards for hazardous material
  • recycling (LEED)
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9
Q

09 - What are the 4 classes of Cost Estimates and at what phase of an architectural project would each occur?

A

D - Pre-design (Pre-D)
C - SD
B - DD
A - CDs

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10
Q

10 - Define (2) this method of costing and list pros/cons(2):
CLASSES of COST ESTIMATES

A 
• arranged by MASTERFORMAT
• used by CONTRACTORs
\+ easy to retrieve info
\+ info CURRENT / RELIABLE
- rqrs estimator with DESIGN+CONST. experience
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11
Q

11 - Define (2) the ELEMENTAL COSTS method of costing and list pros/cons(3):

A 
• arranged by MAJOR ELEMENTs (divide building)
• uses costs established on other jobs
\+ process can proceed WOUT DWGs
\+ useful DURING DESIGN
- hard to CHECK
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12
Q

12 - Who uses the AREA (cost/m2) method of costing? List pros/cons(3):

A

• used by architects for GENERAL COSTING ONLY
+ floor area EASY for all building types
+ EASY for all to understand
- does not account for unique conditions

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13
Q

13 - What is the VOLUME (cost/m3) method of costing used for(2):

A
  • used for refrigeration

* used as double check against other costing

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14
Q

14 - When is the UNIT (cost/bed, seat, etc) method of costing used:

A

• early design stages as quick reference

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15
Q

15 - What are the 6 steps of value analysis?

A 
1 - COLLECT data
2 - functional ANALYSIS (how is it performing)
3 - ALTERNATE options
4 - ASSESS feasibility of options
5 - RECOMMEND 
6 - IMPLEMENT + monitor
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16
Q

16 - When using Hanscomb Yardstick for Costing Estimates, what can you assume about construction type and the labour force?

A

It excludes residential construction, and the labour force is unionized.
(unit pricing typically 20-30% less for residential)

17
Q

17 - Is Hanscomb Yardstick for Costing a good resource for contractors when bidding?

A

No, it is best for estimating costs during design.

18
Q

18 - The costs and rates in Hanscomb yardstick for Costing reflect the following factors if compared between the different locations: (4)

A
  • Building code requirements
  • Local market conditions
  • Differential labour productivity
  • Supervision and management costs
19
Q

19 - When referring to the gross building costs in Hanscomb Yardstick for Costing, do the numbers define local or national conditions?

A

While the Current Market Conditions are represented for 8 major cities across Canada, the gross building costs are based on the Toronto market + must be adjusted for local conditions.

20
Q

21 - When should composite unit rate be used?

A

During early design phases for Elemental Cost Estimates. Much faster than current market pricing.

21
Q

22 - The CIQs List of Elements for Composite Unit Rates are grouped into A, B, C, D, and Z. What type of elements or group of pricing information is in each of these 5 groups.

A

A - SHELL (A1 Substructure, A2 Structure, A3 Exterior Enclosure
B - INTERIORS (B1 Partitions + Doors)
C - SERVICES (C1 Mech, C2 Elec)
D - SITE + ANCILLARY WORK (D1 Site Work)
Z - GEN RQRs + ALLOWS (Z1 Gen rqrs + fees, Z2 Allowances)

22
Q

23 - Which method of estimating is best suited to the current market rates found in Yardsticks?

A

Classes of Estimates - arranged into Masterformat divisions.

23
Q

24 - What do the solid and dotted lines in the current market rates of Yardsticks represent?

A

……….supply only

____install only

24
Q

25 - When using the current market rates found in Yardsticks is it safe to assume that provincial and federal taxes are included?

A

Provincial taxes are included where applicable but GST/HST are EXCLUDED.

25
Q

26 - Who might use the Gross BLDG. Costs found in Yardsticks?

A

Architects typically use the Area Cost method with Gross BLDG. Costs for very quick estimates.

26
Q

27 - What 3 costs are shown for each building type in the Gross BLDG. Costs found in Yardsticks.

A

Low
Ave
High

27
Q

28 - In Yardsticks, how is the information in the Gross BLDG. Costs organized?

A

By type and then by element

A shell, B Interiors, C services, D Site+Ancillary

28
Q

29 - What type of elements has been excluded from Gross BLDG. Costs in Yardsticks?

A

Site work - due to wide variation.

29
Q

30 - When critiquing a client’s budget VS the PROGRAM what should the architect consider? (5)

A 
(enough $?)
1 - cost/m2
2 - SME systems
3 - Proj. Delivery Method
4 - Unusual Site Conditions / Location / Weather
5 - Client's Vision + Aspirations
30
Q

31 - When critiquing a client’s budget VS the CONDITIONS OF COMPLETION what should the architect consider? (4)

A

1 - Pre-Design / Programming
2 - Coord of SME
3 - Commissioning
4 - Post Project Evaluation

31
Q

32 - What is the CPI and who typically publishes it?

A

Cost Price Index, published by Gov. Agencies + Private Companies
(shows trends)

32
Q

33 - What are the pros/cons of Quantity Surveyors?

A

+ success based on track record
+ can double check for credibility
- unit costs = HISTORIC (not current)
- detailed cost info cannot be broken out of trade divisions

33
Q

34 - What are the pros/cons of Construction Managers?

A

+ info as current as the number of projects they have ongoing

  • not an independent consultant (conflict of interest)
  • may not be adept at assessing ‘NEW’ situations
34
Q

35 - Define Construction Costs.

A

HARD Costs: materials / labour (excl. land purchase)

35
Q

36 - Define Project Costs.

A

HARD + SOFT (inc. consultant fees + land purchase)

36
Q

37 - Overall Costs

A

HARD + SOFT + OTHER: interest / mkting / legal etc

37
Q

38 - Life Cycle Costs

A

CAPITAL (inc. land purchase) + OPERATING + MAINTENANCE

38
Q

39 - If the lowest bid exceeds the estimate by more than 15% during tender, what action should be taken by the architect according to RAIC Doc 6?

A
  • INCREASE PROJECT BUDGET
  • have all GCs RE-BID or NEGOTIATE w low bid
  • MODIFY CDs to reduce construction costs (***for no add. fee)
39
Q 
40 - Match each of the following building types to the appropriate price bracket ($/SF). 
up to 100, 101-200, 201-300, 301-400
Elementary School
Warehouse     
Regional Hospital
Fire Station
A 
• up to 100
Warehouse  
• 101-200
Elementary School
• 201-300
Fire Station
• 301-400    
Regional Hospital

ExAC Exam 1 (8 decks)

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