Cost Estimating Flashcards
What is the primary purpose of cost estimating during the programming phase?
To establish a rough construction budget using square foot costs or comparables to inform design scope and client expectations.
How do architects typically estimate costs in schematic design (SD)?
Using square foot costs and unit-based costs (e.g., per classroom or apartment) to align design with the initial budget and catch scope creep early.
What does cost estimating in design development (DD) rely on?
Assemblies-based pricing using more specific materials, quantities, and systems, allowing for more accurate and detailed estimates.
How is cost estimating handled during construction documents (CD)?
Often done in-house for components but shifts to external contractors through bidding; ensures CD set aligns with budget expectations set earlier.
What is the goal of cost estimating at each design phase?
To continuously compare estimated costs to the original programming budget and catch scope creep early.
What is scope creep and how is it avoided?
Gradual increase in project scale and cost; avoided by consistent cost reviews at SD and DD and clear communication with the client.
Why are bid forms essential in the bidding phase?
They ensure all bidders provide comparable information (base bid, unit pricing, add/deduct alternates) for apples-to-apples evaluation.
What is unit pricing in bids, and when is it used?
Pricing per square foot/unit for specific items (e.g., VCT vs. terrazzo); used for flexibility during value engineering or change orders.
What are add and deduct alternates?
Options included in the bid for adding or removing scope to help tailor the project to budget constraints after bid results come in.
What is the risk of including too many unit prices in a bid form?
It signals poor project clarity to bidders, may inflate bids, or even scare off contractors.
What is a contingency allowance in bidding?
A placeholder cost for unfinalized items included equally in all bids to maintain comparability and coverage.
What type of cost estimating is used in construction administration (CA)?
Primarily gut checks and change order reviews; sometimes detailed estimating if contractor pricing seems unreasonable.
Who performs cost estimating in Design-Bid-Build?
Architect does estimating during design; GC provides pricing through competitive bidding at CDs.
Who performs cost estimating in Design-Build?
The design-build entity performs all cost estimating internally; cost is locked in early with limited client visibility.
Who performs cost estimating in Construction Manager as Advisor (CMa)?
CM performs cost estimating and advises architect and owner; allows cost control during design phases.
Why might negotiated bid be used over competitive bidding?
To build a team-oriented project with a known GC, improving collaboration and control even if lowest price isn’t guaranteed.
What do sealed bids require?
Strict legal adherence to submitted numbers, often used in government-funded projects where price must be honored exactly.
How do local rates and bidding climate impact estimating?
Local costs and contractor demand shift pricing significantly; good estimators adjust assumptions based on zip code and current market.
When you receive a bid, what should it be compared to?
Compare it to other bids and the initial dollar projections to ensure alignment with the project’s budget.
What should a developer do if they’re unsure their negotiated contractor is giving a good deal?
Conduct a full bid process to compare pricing and determine if the current contractor remains competitive.
What is the advantage of Design-Bid-Build for pricing and estimates?
It provides clear, competitive pricing through multiple bids, offering the most transparent cost comparison.
What is the disadvantage of Design-Bid-Build?
It is the slowest delivery method due to sequential design, bidding, and construction phases.
What is the pricing advantage of using a Construction Manager (CM)?
Early cost input from the CM during design and potential cost savings from avoiding GC overhead and profit.
What is the risk for owners in CM project delivery method?
The owner assumes cost risks (e.g., delays or overruns) that would otherwise be the GC’s responsibility.
