Construction Cost Estimating and Cost Control

5. Question 5 Earned Value – Retainage = Billings 1 / 1 point   True   False

2. Question 2 The conservatism principle in accounting means recognizing revenue as soon as possible and expenses when they are received. 1 / 1 point   True   False

1. Question 1 Revenue – Expenses = Capital 1 / 1 point   True   False

5. Question 5 The Cost Manager is the person who estimates cost for a project. They will estimate the price, value, number, quantity or extent of something. 1 / 1 point   True…

4. Question 4 All of the following help to manage costs of a project efficiently: 1 / 1 point   Meeting attendance   Meeting participation   Communication   Responding to phone calls within…

2. Question 2 Pricing research includes which of the following 1 / 1 point   Project specifics   Pricing/Rates   Location factors   Number of vehicles rented   Escalation

1. Question 1 Design management includes all of the following documents and topics: 1 / 1 point   Drawing Register   Drawing pack   Contractor pack   Engineering pack   Specifications   Schedule

3. Question 3 Benchmarking is the only way to test your pricing. 1 / 1 point   True   False

3. Question 3 Select the people who would be need to work with the punch list 1 / 1 point   Project manager   Cost manager   Architect   Appraiser   General Contractor…

2. Question 2 Select all of the benefits of including a punch list in a contract 1 / 1 point   Ensures obligations of all parties   Part of the earned value method…