px | week 03 review Flashcards
section 02 | project process, roles, and coordination
what is included in a construction cost?
anything that is attached to / becomes part of the building structure?
what is general overhead and what costs are associated?
the cost of running a contracting business; includes: office rent, admin help, utilities, and other recurring costs.
what is project overhead?
the cost it takes to complete a specific job, NOT including labour, materials, or equipment.
total overhead cost can range from ______ to _______ of a contractor’s labour, material, and equipment.
10%, 20%
what is the term for the percentage of the total labour, materials, and equiment costs to a job?
profit
what is a typical profit range?
5% - 15” of the total job cost.
what is a typical overhead + profit range?
15% - 25% of the total construction cost.
who pays taxes on materials used in construction?
the general contractor.
what is the term for the allowance for unforeseen client change requests?
contingency
contingency should account for what percentage of the total budget?
5% - 10%
what is inflation factor?
the use of past cost indices and inflation rates to estimate the expected construction costs.
what estimating method assigns a unit cost to construction quantities + furnishings?
the parameter method.
what is a cost index?
a statistical measure that tracks changes in the cost of something over time, usually expressed as a ratio compared to a base period, reflecting price fluctuations of materials, labor, and equipment involved in that cost.
what is included in net area (or net gross area)?
the actual occupant area required by a client.
if there are five offices in a building suite and each office measures 150 sf, what is the net area?
150 sf x 5 = 750 sf
what is the term for spaces not occupied by a tenant?
incidental space
which building elements are considered incidental space?
- closets
- columns
- walls, etc
what is an efficiency factor for a leased space?
the ratio of the net area to the total occupant area.
what is the term for the total portion of a building being actively used by a tenant?
occupant area
what is the typical range of efficiency ratios?
.6 - .8
how is occupant area calculated?
occupant area = 1 / efficiency ratio
how is rentable area calculated?
rentable area = (occupant area) (load factor)
what does the building owners + managers association (boma) provide?
standards for common methods of measuring space for retail, industrial, multi-unit residential, and mixed-use buildings
what is an r/u ratio?
rentable area / usable area
what is an r/o ratio??
preliminary floor area / usable area
a business is looking to move to a new leased office space. the client requires 4500 sf of net assignable area. the building’s load factor is 1.20, how much space does the client need to consider leasing?
- calculate gross area
- gross area = net assignable area / efficiency factor
- gross area = 4500 / .75 (office efficiency factor)
- gross area = 6000 sf - calculate rentable area
- rentable area = (gross area) (load factor)
- rentable area = (6000 sf) (1.20)
- rentable area = 7200 sf
what is a normal range for the overall building efficiency?
.5 - .9 - ration of net assignable area / gross building area
what is act of taking the total fee the designer will receive for the project and allocating it to the schedule + staffing of a project?
fee projection
what costs are deducted from the total fee when calculating the project fee projection?
- profits
- overhead
- other expenses not used for professional time
what type of chart graphically depicts all tasks required to finish a project including the sequence of events, duration, earliest / latest start time, and earliest / latest finish time?
a cpm chart
what is project scope?
all activities that the designers agrees to perform in exchange for the fee.
what is a construction manager?
a third party who is an expert in construction, costing, and management of the construction project.
what type of project delivery includes the creation of construction documents which are sent out to bid by contractors?
design - bid - build
what type of construction cost estimation consists of the contractor giving the owner a set price for completing the project?
fixed price method
what type of construction cost estimation consists of the owner paying the construction cost + fee before construction begins?
cost + fee method - construction manager guarantees a maximum price.
what is a control estimate?
the sum of the construction manager’s estimate of the cost of work + the cm’s fee.
how does a design-bid-build method differ from a design-build method?
design-build places responsibility for the design + construction with one entity.
how do mediation and arbitration differ?
mediation involves a third party to negotiate a settlement.
arbitration is a formal, legally binding process for resolving disputes.
