Cost estimation Flashcards
1
Q
what is the purpose of cost estimation
A
funding viability option comnparison cost control financial planning
2
Q
how does the acuracy of cost estimating go as more detailed
A
concept-preliminary-detailed more and more accurate
3
Q
what are the 6 phases of cost estimating
A
fesability options scheme predesign design construction
4
Q
what are some things included in capex (capital expenditure)
A
land or access agrements, resource, and building consents and studies for them investigations insurance and taxes construction overheads. inspection etc
5
Q
rule fo thumb for design fees
A
5-10 % of capex for each stage
6
Q
what is included in opex operative expenditure
A
operatior fees power supply maintenance contracts materials administration
7
Q
what is an engineers estimate based on and how accurate
A
20%
based on quantity
referecnedc material
past experience
8
Q
whats the differecne between construciton estimate and tender price
A
contractors margin
risk assessment
9
Q
what is included in the tender evaluation
A
experience health and saftey price resources programme
10
Q
why does actual construction cost vary from estimated
A
weather
unforeseen ground conditions
.design incosistancies
supplier delays
