Brightwood_Chapter 19_Budget Analysis And Cost Estimating

Question 1

OFF-SITE WORK

Answer 1

Includes all improvements Outside of the property lines of the project. May include basic utilities and all services required to make the development operable.

Question 2

ON-SITE WORK

Answer 2

Includes all improvements Within the property lines but excludes the building itself. May be roads, walks, parking areas, landscaping, sprinklers, lighting, pools, fountains, walls, fences, etc.

Question 3

PROGRAMMING PHASE

Answer 3

The UNIT COST System, that is, cost per square foot, is quite appropriate.

Question 4

SCHEMATIC DESIGN PHASE

Answer 4

Cost Information on the major elements of each building subsystems. HVAC, Electrical, Plumbing etc.

Question 5

DESIGN DEVELOPMENT PHASE

Answer 5

Detailed Component costs are required, which permit a more precise selection of components and systems.

Question 6

CONSTRUCTION DOCUMENTS PHASE

Answer 6

Necessary to use COMPOSITE UNIT RATES for construction components, assemblies, and systems.

Question 7

GENERAL OVERHEAD COSTS

Answer 7

All Costs that CANNOT be changed to a specific project.

Question 8

PROJECT OVERHEAD COSTS

Answer 8

All Costs that can be charged to a specific project but cannot be attributed to Labor, Materials, or Equipment.

Question 9

PROFIT

Answer 9

The amount of a contractors profit is usually expressed as a percentage of the total estimated costs of materials, labor, equipment, and overhead.

Question 10

PRO-FORMA

Answer 10

The financial analysis of a building project, which involves COST AND RETURN ON INVESTMENT.

Question 11

GENERAL OBLIGATION BONDS

Answer 11

Are used to finance the construction of facilities that do not collect revenue, such as schools, roads, parks, etc.

Question 12

REVENUE BONDS

Answer 12

Are used to finance revenue-producing facilities, such as toll bridges, water treatment plants, etc., and the fees collected by such facilities are used to pay back the bonds.