For what is the total cost method used?

Q: How can owner-supplied materials present a problem to estimators?

A: Estimators are the individuals who are liable for getting tenders, acquiring material expenses,…

Q: Explain what does the CPM method of time cost trade offs provide ?

A:

Q: What are some of the restrictions imposed on the contractor in operation projects?

A: - A Restriction is a situation or condition that obstruct progress towards an objective or goal -…

Q: What are the Methods and procedures for providing tiebacks?

A: Various types of restrained wall systems such as tiebacks, screw anchors, dead men anchors, soil…

Q: If construction cost $95 per square foot how can I find the cost of building the home?

A: Given Data: The construction cost per square foot is $95 The length of the building is, L=54 ft The…

Q: What is the difference between first cost and life-cycle cost?

A: The difference between the First Cost and Life-cycle cost is given in following table.

Q: Can you produce an accurate forecast of the cost of a project using the cost-per-unit method of…

A: Estimation of the building is important in pre-planning so that a rough estimate can be prepared and…

Q: Which type of information can be added to BIM? All the answers are correct Schedule Cost…

A: Answer:- All the answers are correct. BIM: Building Information Modelling is the holistic process of…

Q: Why is a trade breakdown of the cost of construction preferred by contractors?

A: Contractors prefer to use a trade breakdown for estimating construction costs because almost all…

Q: What is Total Installed Cost?

A: total project cost is the sum of the direct and indirect cost. the direct cost is for accomplishing…

Q: discuss the medical services needed in construction projects, types of items needed?

A: In any construction project it is necessary to readily avail medical services to the injured or…

Q: What are the three different project models for carrying out construction work?

A: Three different types of project models for carrying out construction work are as follows :-  EPC…

Q: What are the different periods during the life of a project when unjustified requests for…

A: Substitution process allows the contractor to use different brand with same specifications and…

Q: What are the two types of project delivery systems for construction?

A: The two types of project delivery system for construction are: 1 Construction Manager at Risk (CMAR)…

Q: What is the probability that the simple project will be completed in 29 days? and How long will it…

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Q: Give an insight and reflection about this "Development of cost engineering system in construction"

A: Introduction:- The current construction pricing system comprises not only budget production at the…

Q: What is cost-of-service pricing? What is the relationship between value-of-service pricing and…

A: In type of cost-of-service pricing can be simply described as the cost for providing a particular…

Q: What are the payment provisions under the construction act?

A: The construction act allows each worker under a construction contract to accept payment in stage…

Q: What are the contractor’s financing charges on a project, and how is the cost of financing charges…

A: Brief concept introduction- Every project needs a contractor and he/she charges some fees to…

Q: How is the allocation of indirect costs usually done?

A: Let's first understand what is indirect cost: Indirect prices area unit those that can't be fully…

Q: What is the cost-plus incentive fee?

A: Cost plus incentive fee Cost plus incentive fee is a fee amount in which there is a fixed amount and…

Q: Suggest some possible reductions in construction costs by the contractor?

A: Because of cost control strategies project expense is handled so that the contractor does not incur…

Q: Define direct operating costs?

A: Introduction : Direct operating costs : All eligible expenditures required to operate and maintain a…

Q: How is the most cost-effective construction obtained?

A: The method of using the local building materials and equipment effectively to get the required…

Q: What is a construction cost estimate?

A:

Q: Define in your own words the construction cost estimate and list and describe the different types of…

A: Construction Cost Estimate:-  A cost estimate is actually defined as a predicted expenditure of the…

Q: Demonstrate how safety and health management system will be able to reduce the construction cost.

A: OSHA represents Occupational Safety and Health Administrative. OSHA is a government managed agency…

Q: How accurate is a strategy for estimating the costs of engineering projects?

A: Construction projects are very different from products manufactured in assembly lines: each building…

Q: What kind of cost-saving measures can be taken?

A: - Various measures to be taken for cost saving includes : 1- Use of alternative material - Use of…

Q: Which method is the best to adopt while carrying out cost estimation of a new building project?…

A: Methods of cost estimation of building project: There are two methods 1.Individual wall method…

Q: what does a company evaluate both the money allocated to a project and the time allocated to the…

A: A company evaluate both the money allocated to a project and the time allocated to the project

Q: What is the purpose of a price allocation form?

A: The price allocation form is a start to finish list of work item on a project that represent the…

Q: What are the key characteristics of a work package for a construction project?

A: To start any construction project, there is the development of the work packages. With the help of…

Q: What are the results of using the total cost method for the contractors?

A: Largely, the Total Cost approach of quantifying building claims has been disadvantaged by the courts…

Q: How is the payment for the mobilization costs done to the contractor?

A: The Mobilization Advance is a financial payment to the contractor made by the client for initial…

Q: Are the construction schedules related to building costs?

A: One of the primary components in assessing project cost is a construct schedule. When all the…

Q: How Can Site Access affect the Price of the Work ?

A: Site conditions is one of the factors that impact cost and time contingency.

Q: What are the most commonly used cost estimating methods for software?

A: Cost estimation  Cost estimation means estimating the cost values of various items involved in any…

Q: what is the influence of construction cost overtime.

A: In order to know about factors influencing the construction cost in over time, we need to know the…