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Question 1
What estimating method calculates costs by multiplying a known unit cost by the total number of measured units (e.g., cost per square foot)?
Answer: Unit price estimating. It applies a predetermined cost per unit of work to the total quantity of that work item to arrive at a total cost.
Question 2
What type of estimate is typically prepared during the early design phase using historical cost data per square foot of building area?
Answer: A conceptual (or preliminary) estimate. It provides a rough order-of-magnitude cost based on limited project information and historical data.
Question 3
What is a 'definitive estimate,' and at what stage of design is it typically prepared?
Answer: A definitive estimate is a detailed, accurate cost projection prepared from completed construction documents (90–100% design), used for final bidding or budget approval.
Question 4
What estimating approach groups individual work items into systems or assemblies (e.g., exterior wall system) rather than pricing each component separately?
Answer: Systems (or assembly) estimating. It prices functional building systems as a whole, offering faster estimates than detailed unit pricing while being more accurate than square-foot methods.
Question 5
What is the primary purpose of a quantity takeoff in the estimating process?
Answer: A quantity takeoff systematically measures and lists all materials, labor, and equipment quantities from construction drawings and specifications, forming the basis for pricing the estimate.