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Flashcards in 6 - CE Deck (169)
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1

for the programming phase, what are 3 ways cost estimates can be performed?

1. unit cost, such as per hospital bed, per theater seat
2. historical data based on similar type of projects perviously completed
3. cost per sq.ft.

2

what cost estimating method is used during the SD phase?

preliminary, rough; based on major elements, such as structural system, MEP systems

3

what cost estimating method is used during the DD phase?

detailed pricing based on the actual components being considered, including windows, curtain walls, finishes, & equipment

4

what cost estimating method is used during the CD phase?

complete & final pricing based on direct quotes from suppliers, installers, sub-contractors, & manufacturers

can only be done once nearly everything in the building has been specified, a great deal of effort

final check before construction begins, allows for revision to design as needed to meet budget

5

what factors can have an effect on cost estimates?

- availability of labor & material, labor rates, material prices, resources to produce material, convenience of transportation, location (more remote = more costly), less predictable costs in rural areas
- high interest rates = less housing construction = lower material prices
- increased cost of living = increased union wages & higher labor costs

6

what is the typical profit margin factored into the construction cost estimate?

15-20% for small projects
10-15% for med-large
5-10% for very large

7

what are the typical fees of the MEP consultants?

as a % of construction cost:
mechanical = 15%
electrical = 12.5%
civil = 10.5%
structural = 9.4%

8

cost estimating with parameter costs can be adapted to a city by using _____ or adding an inflation factor

ENR 20 Cities Building Cost Index

9

what is a pro-forma, who does it, and during what phase of a project is it typically done?

financial analysis of the building project showing costs & ROI

typically done by client at beginning of project to determine if project will be profitable

10

what is general obligation bond?

a municipal bond that is issued when a state or local government wants to raise money for a project

shareholders are guaranteed to be repaid using future tax revenues

11

what is a revenue bond?

a type of municipal bond

shareholders are promised payment form the revenue collection of the projects (e.g. tolls from a new bridge)

interest rates are higher than general obligation bonds

12

describe the 5 phases many firms use to help in cost estimating

pre-planning/proposal phase: unit cost coming from occupancy of building

programming: function of spaces & unit costs come from similar buildings

SD: begin to determine major elements & systems in buildings

DD: more defined materials

CD: finishes in place, should reflect pre-bid cost breakdown

13

define depreciation

federal tax benefit given for the decrease in the value of assets over time

14

with regard to project budget, how are quantity & quality related?

a change in one will result in a change in the other

15

what 4 conditions are out of the architect's control when it comes to cost estimates?

- market conditions
- inflation & cost of goods & services
- contractor means & methods of construction
- unknown site conditions

16

what is the project development budget?

the budget for the entire project, including but not limited to site acquisitions, construction costs, professional service fees, permit & inspection costs, financing costs, & contingencies

17

name 7 steps in the project development budget

1. site acquisition & purchase
2. construction: off-site & on-site
3. professional services (architect, engineers, & consultants)
4. miscellaneous fees (bids, permits, or reports)
5. inspections & testing
6. contingencies
7. financing costs

18

what are 5 contract elements between owner & architect?

1. description of services to be provided
2. fees or services
3. name, address, & license number of architect
4. provision for additional services
5. termination clause

19

which method of compensation for architectural services reduces the risk to the architect?

direct personnel expense

instead of a multiple of employee salaries, the client is billed for the salaries of staff working on the job, plus the cost of their benefits, and a set amount for overhead & profit

since the is the exact cost of the employee for the architect, this approach is best for new clients with speculative work, as it minimizes risk to the architect

20

multiple of direct salary expense, direct personnel expense, and hourly billing rate are all examples of what type of billing method?

these are all time-based methods of billing

21

define fast track schedule

construction documents are issued in phases, construction begins while design is still being completed

22

describe a typical project schedule, itemized by phase

SD - time to complete affected by size & complexity, quality of client's program information, decision-making ability of client, design team (usually 1-2 months)

DD - time to complete affected by complexity of project (usually 2-6 months)

CD - affected by complexity of project (usually 3-7 months)

Bidding & Negotiation - usually 3-6 weeks

CA - varies depending on size/complexity of the project; may require years to complete

23

name at least 4 negative effects that might be experienced from shortening the project schedule

- overtime work: costly & inefficient
- hire mor people: inexperience, time to train
- reduce man hours: poor quality of drawings
- overall, causes higher costs for design & construction, and lower quality project

24

define CPM (critical path method)

path with the longest required time is the critical path, and the activities on that path are called critical activities

reducing the critical path reduces the whole schedule & increases job costs, but decreases overhead costs

25

describe what happens when a project is fast tracked

also called accelerated or telescoped

CD's are issued in phases, requires coordination and precludes against major design revisions

requires staged bidding - may get many contractors & therefore makes it hard to get a fixed price early on; usually needs a CM to oversee

26

who is responsible to pay for labor & materials?

the contractor (unless otherwise provided for in the contract documents)

AIA201 3.4.1

27

does a contract allowance cover labor, installation, or overhead costs?

no - only covers cost to contractor of materials & equipment delivered to site & all required taxes

costs for unloading, handling, labor, installation, overhead, & profit are not included in allowances (included in contract sum instead)

28

if a construction change directive provides for an adjustment to the contract sum, what is the adjustment based on?

1. mutual acceptance of a lump sum properly itemized & supported by sufficient data
2. unit prices stated in the contract documents or subsequently agreed upon
3. cost to be determined in a manner agreed upon by the parties and a mutually acceptable fixed or percentage fee

AIA A201 7.3.3

29

what items does the architect assist the owner with during the bidding or negotiation phase?

1. establishing a list of prospective contractors
2. obtaining either competitive bids or negotiated proposals
3. confirming responsiveness of bids or proposals
4. determining the successful bid or proposal
5. awarding and preparing contracts for construction

30

what specific responsibilities does the architect have in bidding the project?

1. distribute bidding documents to prospective bidders, maintaining a log of distribution
2. organize & conduct a pre-bid conference for bidders
3. prepare responses to questions from bidders & issue addenda
4. organize & conduct the opening of the bids & distributing bid results