ARE_Cost_Estimation Flashcards
(23 cards)
What is ‘first cost’ in architectural design?
The initial expense of a material or system, including purchase and installation.
What is ‘life cycle cost’?
The total cost over time, including first cost, maintenance, replacement, and energy use.
Why is life cycle cost often more important than first cost?
Because it provides a more realistic understanding of long-term value and cost implications.
When might first cost be more relevant than life cycle cost?
In short ownership timelines, such as 4–6 years, where replacement/maintenance isn’t a factor.
Why is vinyl siding often less cost-effective long-term than brick or wood?
It may need to be replaced multiple times, increasing its life cycle cost.
Why might developers focus only on first cost?
They typically aim to build and sell quickly, not maintaining the property long-term.
Why do institutions like schools or libraries prioritize life cycle cost?
They intend to own and operate the building for decades, making long-term value crucial.
What does ‘value engineering’ involve?
Removing or adjusting program elements to meet budget without sacrificing essential goals.
When should value engineering ideally take place?
At the end of Design Development, not during Construction Documents.
How is cost related to design efficiency?
Every square foot and level of finish equates to cost; reducing unnecessary space/materials saves money.
What is a ‘take-off’ in cost estimation?
A detailed quantity count of materials used for accurate pricing.
How does an ‘estimate’ differ from a ‘guesstimate’?
An estimate has legal and financial basis; a guesstimate is an informed approximation.
What are two common methods architects use to estimate costs?
By type (building type-based) and by assemblies (component-based).
What is the ‘by type’ cost method?
Assigns cost based on general building characteristics, like type and system.
What is the ‘assemblies’ cost method?
Estimates based on each building component (e.g., walls, floors) and their materials.
What is the benefit of the assemblies method?
Allows for easy modification and realistic cost analysis of specific design choices.
What must be ensured when using the assemblies method?
All necessary components are included in the estimate.
How can architects adjust costs for specific design elements?
By modifying default pricing from Means or other databases based on known material or labor differences.
What is Means?
A widely-used construction cost database providing type- and assembly-based pricing.
Why are sales reps useful in cost estimation?
They provide accurate pricing for specialty or new products not found in databases.
What role can a construction manager (CM) play in cost estimating?
They provide third-party cost reviews early in design as part of CM project delivery.
What is a location factor in cost estimating?
An adjustment based on regional cost variations to improve accuracy.
What is the main takeaway for estimating costs in design development?
Move from rough guesses to detailed, comparative costing using types or assemblies for design decisions.
