Homework SourseIt is for construction estimating class Note no hand writing
It is for construction estimating class. Note: no hand writing because it is sometimes not clear.
Thank you
It is for construction estimating class. Note: no hand writing because it is sometimes not clear.
Thank you
1. Tor F For a contractor to bid on a project the project margin should outweigh the risk 2. TorF Conceptual estimates use completed drawings for accuracy. 3. Tor F Square foot estimates are prepared by multiplying the square footage of a building by the cost per square foot with adjustments for differences such building heights 4. Tor F In negotiated bidding the contractor negotiates all the subcontractor work. 5. Tor F Unit-price works is typically used for projects such as road construction. 6. Tor F The major disadvantage to the owner with a Lump-Sum contract is the majority of risk is placed on the owner. Tor F A Percentage Fee contract is where the contractor\'s fee is based a specified percentage of the construction costs. 7. 8. Tor F In a Fixed Fee with a Guaranteed Maximum Cost contract the majority of the risk is placed on the contractor for construction cost overruns. 9, Tor F Bid Bonds are typically 20-30% of the contract cost. 10. TorF All bids must be opened publicly. 11. Tor F Contractors are always given a completion date by the owner. 12. TorF A bid must be selected and awarded by an owner during the bidding process 13. Tor F Subcontractors generally create their own bids. 14. Torf The profit margin for a general contractor is typically 10-12%. 15. Tor F Historical accounting data should track both the cost and productivity of work performecd 16. TorF Overtime generally increases productivity 17. Tor F Open shop contractors have more flexibility in determining wage rates and benefits for workers. 18. Tor F Productivity is not a factor for equipment, only labor 19. Tor F The geotechnical report is generally completed prior to the bidding phase of a project. 20. Tor F Excavation is measured in cubic yards Solution
Answer 1-True
Answer 2-True
Answer 3-True
Answer 4-True
Answer 5-False
Answer 6-False
Answer 7-True
Answer 8-False
Answer 9-True
Answer 10-True
Answer 11-True
Answer 12-True
Answer 13-True
Answer 14-False
Answer 15-False
Answer 16-True
Answer 17-True
Answer 18-False
Answer 19-True
Answer 20-True
