Flashcards in COST ESTIMATES Deck (24):
The merit shop or open shop?
The sum of all costs of operating a project
Elements of long-term cost (7)
1. Construction costs: 15%
2. Land, fees, legal, furniture: 10%
3. Operations: 20%
4. Maintenance: 15%
5. Taxes: 20%
6. Financing: 10%
7. Renovations: 10%
Which document states that architects estimate projects based on professional knowledge but that they make no guarantee of their estimates?
AIA owner – architect agreement, document B141
An architect determine whether or not a project employees union or nonunion labor?
Who have to advise the owner of necessary adjustments to earlier estimates in order to account for changes in project requirements or general market conditions?
What is AIA document B141's current term for fixed limit of construction cost?
For things to do when the bids are all above the budget
1. Increase the budget and except the bid
2. Rebid or renegotiate if you think you'll get a lower price
3. Abandon the project
4. Reduce the scope quality or both… And then rebid
What is AIA C141?
Describes responsibilities of engineers providing services on a project
If the budget for a consultants part of the project is exceeded by the pertinent part of the low bid, and architect can require that particular consultant, without additional charge…
To modify his or her drawings and specifications in order to bring the cost of his or her part of the project within the agreed budget
How do you usually estimate construction costs in early stages of design?
On a cost per square foot of area or cubic foot volume
Once the buildings area or volume is been calculated, what kind of cost must be selected…
An appropriate unit cost
What is the document describing architectural area and volume of buildings?
AIA Document D101
Two places to look for information on unit cost.
Means building construction cost data. Dodge reports.
Building design and construction news.
What is a valid contingency for estimating project cost?
10% to 20%
Unit cost versus…
Subsystems methods … Which deal with the project functional units or assemblies
Give me a sample subsystems breakdown in 12 pieces
3. Super structure
4. Exterior closure
6. Interior construction
7. Conveying systems
8. Mechanical systems
9. Electrical systems
10. General conditions
12. Site work
Detailed estimates are referred to as _____ or _______
Quantity and cost method or labor and materials method.... Please list every single goddamn thing you're going to do
If provisions for liquidated damages are included in the contract to compensate the owner for delay… Or perhaps a no damages for delay causes included… The contractor has to:
Assess that risk and include an allowance for it in his or her bid
Does the size, shape, and complexity of the building affect its cost?
With a 10% reduction in a building perimeter, unit costs may drop by…
When contractors are confused by the intent are unsure about aspects of the contract documents they…
… Usually increase the price for contingency allowance
A short construction schedule may result in…
Increased construction costs
However, an extended construction schedule also incurs additional overhead costs (like rentals)