WorksheetsEstimating 2
Total questions: 10
Worksheet time: 5mins
What is the primary purpose of a preliminary cost estimate?
To determine the final project cost
To forecast the probable construction cost before the detailed design
To negotiate contractor payments
To determine profit margins
Which of the following factors influence a cost estimate?
Type, shape, and size of the building
Quality of materials used
Methods of construction
All of the above
What is a consequence of an excessively low preliminary cost estimate?
The design could be inferior
The project cost remains unchanged
The client receives excess funds
The construction is completed faster
Which of the following is NOT a method of preliminary cost estimation?
Floor area method
Storey enclosure method
Approximate quantities method
Net profit method
In the Unit Method of preliminary cost estimation, how is the cost estimated?
Based on the total gross floor area
By multiplying the cost per unit of accommodation by the number of units
Using elemental cost planning
By evaluating composite work items
Which method is commonly used in Malaysia to estimate the cost of air-conditioned spaces?
Floor Area Method
Cubic Method
Storey Enclosure Method
Elemental Estimate
Which of the following is a key disadvantage of the Floor Area Method?
It does not consider differences in building height and shape
It is too complex for clients to understand
It cannot be used for public sector projects
It is the slowest method to obtain cost estimates
Why is the Tender Price Index (TPI) preferred over the Cost Index (CI)?
It is easier to calculate
It takes into account the tendering market and competitiveness
It ignores inflation effects
It is only relevant to the contractor
What is the purpose of cost data in construction?
To create financial statements
To forecast and control construction activities
To replace contract documents
To estimate worker salaries
What is the purpose of cost index adjustments in cost planning?
To convert currency values
To update historical cost data to current values
To eliminate all cost variations
To avoid using preliminary cost estimates
