Measuring costs Flashcards
1
Q
What is the highest consideration of increasing demand for accuracy
A
- determination of the extent of approvals required
2
Q
what is the lowest consideration for increasing demand for accuracy in maintenance costs
A
individual daily incentive
3
Q
what are the 4 general groups that set estimates for maintenance costs
A
foremen, engineers, planners, and rate setters
4
Q
what is the largerst factor for standards per unit cost estimating based on
A
collected data.
5
Q
examples of standards per unit cost estimating
A
- comparative rates 2. plantwide ratios( ex. price per ton) 2. specific job standards and time study 4. operational basic data 5.
6
Q
where average pricing of maintenance and repair book can be found
A
the bluebook
7
Q
what is an advantage of using elemental basic data
A
it’s accurate and consistent
8
Q
what are the two areas that determine which method of cost estimating to use
A
- the end use of estimate and the available information and data
