Chapter 5: Information and Indices

What does cost information refer to in the context of construction work?

• Labour costs

• Financial aspects covering materials, labour, plant, overheads, and related project costs

• Overhead costs

• Material costs

What stage is historical cost data typically recorded at?

• Initial design stage

• Final account stage

• Mid-construction stage

• Post-construction stage

What is Unit Rate Data commonly used for?

• Estimating contractor preliminaries

• Bills of Quantities (BQ)

• Historical data analysis

• Design input estimation

Which data type is essential for understanding productivity rates?

• Unit Rate Data

• Resource-Based Cost Data

• Market Price Data

• Preliminary Cost Data

What is the accuracy of Preliminary Cost Data affected by?

• Real-time market conditions

• Design uncertainties

• Historical data

• Labor rates

What does MyCESMM2 ensure?

• Uniformity in cost breakdown

• Local relevancy and compliance

• Accuracy in tender documentation

• Logical organization of components

Which source offers global and regional benchmarking with annual cost reports?

• Government Publications

• Professional Institutions

• Consultancy Firms

• In-House Databases

What is the description of in-house databases?

• Peer-reviewed studies

• Past project records

• Labour indices

• Component classification

Which classification system is widely used in North America?

• NRM

• MyCESMM2

• SMM

• CSI MasterFormat

What does the SMM enhance in tender documentation?

• Uniformity

• Local relevancy

• Accuracy and consistency

• Logical organization