COST ESTIMATES Flashcards
The merit shop or open shop?
Nonunion employers
The sum of all costs of operating a project
Maintenance costs
Elements of long-term cost (7)
- Construction costs: 15%
- Land, fees, legal, furniture: 10%
- Operations: 20%
- Maintenance: 15%
- Taxes: 20%
- Financing: 10%
- Renovations: 10%
Which document states that architects estimate projects based on professional knowledge but that they make no guarantee of their estimates?
AIA owner – architect agreement, document B141
An architect determine whether or not a project employees union or nonunion labor?
No
Who have to advise the owner of necessary adjustments to earlier estimates in order to account for changes in project requirements or general market conditions?
The architect!
What is AIA document B141’s current term for fixed limit of construction cost?
Budget
For things to do when the bids are all above the budget
- Increase the budget and except the bid
- Rebid or renegotiate if you think you’ll get a lower price
- Abandon the project
- Reduce the scope quality or both… And then rebid
What is AIA C141?
Describes responsibilities of engineers providing services on a project
If the budget for a consultants part of the project is exceeded by the pertinent part of the low bid, and architect can require that particular consultant, without additional charge…
To modify his or her drawings and specifications in order to bring the cost of his or her part of the project within the agreed budget
How do you usually estimate construction costs in early stages of design?
On a cost per square foot of area or cubic foot volume
Once the buildings area or volume is been calculated, what kind of cost must be selected…
An appropriate unit cost
What is the document describing architectural area and volume of buildings?
AIA Document D101
Two places to look for information on unit cost.
Means building construction cost data. Dodge reports.
Building design and construction news.
What is a valid contingency for estimating project cost?
10% to 20%
