B3 - Estimating - LT #3

Question 1

Rough Estimate also called:

Answer 1

Preliminary estimate.

Question 2

What is an analogous estimate?

Answer 2

If a 20x20 gararge costs 20,000, then a similar 20x24 garage is 20% larger, which should cost 20% more.

Question 3

What three things are needed to do a detailed cost estimate:

Answer 3

1) Task list
2) Material and labour take-off (including sub costs, rentals)
3) Price sheet of materials and labor.

Question 4

What is the average % of profit and overhead?

Answer 4

Around 15%