APPROXIMATE ESTIMATING TECHNIQUES

What is the definition of a cost estimate?

• A precise calculation of the cost of a proposed project

• An approximate calculation of the cost of a proposed project

• A final calculation of the cost of a proposed project

• A detailed breakdown of the cost of a proposed project

What is the purpose of a cost estimate in the budgeting process?

• To evaluate different design solutions

• To set a realistic cost limit for the project

• To control the design process

• To discourage the client from continuing the project

How does a cost estimate assist the client in making informed decisions?

• By setting the budget for the project

• By planning the financing needed for the project

• By providing information on the financial scope of the project

• By discouraging the client from continuing the project

What is the main function of a quantity surveyor in relation to cost estimates?

• To evaluate different design solutions

• To assist the client in achieving cost targets

• To design the project

• To control the design process

Which method is considered the easiest but most unrefined for cost estimation?

• Cubic method

• Storey enclosure method

• Unit method

• Floor area method

What is the main advantage of the superficial area method for cost estimation?

• It requires much time and essential information

• It is commonly used and easily understood

• It takes into account unique building shapes

• It facilitates changes to be done during the design stage

What is the approximate quantities method also known as?

• Cost plan

• Composite items

• Rough calculations

• Elemental estimate

What is the elemental estimate method used as a basis for?

• Preliminary estimate

• Composite items

• Cost plan

• Approximate quantities

What is the consideration for selecting an estimating method based on the total and type of cost data available?

• Information and time to prepare the estimate

• Experience and skills of the quantity surveyor

• Availability of cost information

• The language of the quiz

What is the main reference for the Principles of Quantity Surveying?

• Construction economics

• Cost studies of buildings

• BCISM Pocket Costbook 2020

• Building economics: appraisal and control of building design cost and efficiency