The Parametric Estimate is a key tool because:
5. Question 5 The Parametric Estimate is a key tool because: 1 / 1 point Trade Contractors bid strictly per Uniformat categories Value Engineering is the preferred way to stay on…
An Estimate is a Predictive Cost Model, based upon:
2. Question 2 An Estimate is a Predictive Cost Model, based upon: 1 / 1 point Quantity Survey Detailed Trade Contractor Bids Incomplete, Ambiguous information Consumer Price Index …
In Target Value Design, the Allowable Cost is set below Market Cost in order to:
9. Question 9 In Target Value Design, the Allowable Cost is set below Market Cost in order to: 1 / 1 point Reduce the Owner’s Below-the-Line spend Establish the “batches” or…
The Estimating 2-Step uses historical data to predict future cost, using:
4. Question 4 The Estimating 2-Step uses historical data to predict future cost, using: 1 / 1 point Benchmark data, Normalized for Time, Location, Type and Scope Input and Output Indexes…
A “great” estimate results in Bids that are :
3. Question 3 A “great” estimate results in Bids that are : 1 / 1 point Below the Allowable Cost and Evenly Distributed Precise (tightly clustered) and Accurate (at or near…
Achieving the Allowable Budget in Target Value Design relies upon:
8. Question 8 Achieving the Allowable Budget in Target Value Design relies upon: 1 / 1 point Line Item Transfer Set Based Design Good – Better – Best alternatives for…
The Validation Process for cost results in documented Conditions of Satisfaction, based upon:
7. Question 7 The Validation Process for cost results in documented Conditions of Satisfaction, based upon: 1 / 1 point Detailed Cost Estimate Value Proposition and Information Index Problem Statement…
The Owner’s Value Proposition may be analyzed to provide guidance to the Design and Construction team regarding:
6. Question 6 The Owner’s Value Proposition may be analyzed to provide guidance to the Design and Construction team regarding: 1 / 1 point Required Function Preferred Architectural Form …
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1. Question 1 Money is of paramount importance because: 1 / 1 point Early estimates that are too costly, kill projects In business, everything can be monetized When the team…
Impacts of Cost Overrun include all of the following except
6. Question 6 Impacts of Cost Overrun include all of the following except 1 / 1 point Reduced program delivery Social and Economic Opportunity Cost More investment Time delays…
