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Estimating > Test > Flashcards

Test Flashcards

1
Q

what is 75% of a site supervisors job?

A

stop people from getting hurt (construction safety)

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2
Q

Reasons for adopting tech:

A

1 - more money
2 - greater complexity of projects
3 - safety
4 - quality of life of workers

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3
Q

What is the major technology change on the way right now in the construction industry?

A

The convergence of computer science and building science.

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4
Q

What is the only sustainable competitive advantage?

A

The willingness to change continuously.

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5
Q

What is an IoT device?

A

Internet of things. Examples : smart devices, smart lights, smart tools, etc.

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6
Q

What is photogrammetry?

A

The science of making measurements from photos, to create drawings, maps, or 3D models.

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7
Q

How is VR being used in construction?

A

3D walkthrough in BIM

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8
Q

What is augmented reality?

A

A device that allows you to view virtual reality objects in real world space

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9
Q

What are 3 types of cloud computing?

A

1 - Private
2 - Public
3 - Hybrid

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10
Q

What is a luddite?

A

A person opposed to new technology or ways of working

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11
Q

Provide one example of machine learning/AI examples as discussed in class

A

1 - Google Images - (image recognition)

2 - Captionbot.ai - (image recognition of the photo you upload)

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12
Q

What is a bid bond? Why would an owner want one?

A

Proof they are a capable company financially. Reassurance the company won’t go bankrupt and can complete the project.

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13
Q

What is a contingency allowance?

A

For possibilities. Contractor can do a markup to try and get it, so it’s becoming normal to not list one.

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14
Q

Why hire a general contractor?

A

The main reason for most owners to hire a General Contractor is to have someone else carry all of the risks associated with building a building.

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15
Q

The main reason that owners get bonding?

A

Bonding requirements are usually put into place to help the owner enforces the obligations of the General Contractor (Bid Bond, Labour and Materials Bond, Performance Bond)
It’s easier to call up and say, “either you pay me, or you get them to pay or sign”.

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16
Q

What is overhead profit? Know how to calculate overhead profit

A
  • Company overhead establishes a minimum fee the contractor needs to obtain from each awarded project
  • Calculations are as follows: assuming overhead is $1,000,000 and estimated volume of work in the year is $20,000,000, so 5% overhead is needed on every project$1,000,000
    ——————— = 5%
    $20,000,000
17
Q

What is an RFI?

A

Request for Information

-Formal request from contractor to consultant

18
Q

What is a proposed change?

A
  • From owner to consultant

- consultant submits to contractor

19
Q

What is Supplemental Instruction?

A
  • provide clarification

- from consultant to contractor (with no cost)

20
Q

What is a change directive?

A
  • consultant to contractor
  • We’re ordering you to do this now, then after, you’re submitting the pricing information with receipts for things that can be billed for. Time and material costs. Cannot increase contract time. Use overtime to do this and maintain the schedule.
21
Q

What is a change order?

A

From consultant to contractor. For quoted/priced work. Can issue a no cost change order, if needed, to change timeline.

22
Q

What is a certificate of payment?

A

From consultant to contractor. Submit a “draw”, a monthly document submitted to the consultant, if ok’d then the owner can pay the contractor.
15 days from the verified certificate of payment for owner to pay contractor.

23
Q

What is substantial performance?

A

3% - $1 000 000
2% - $1 000 000
1% - $ remaining

Triggers the construction act. If the total value of the contract was less than this, then the certificate is submitted. To contractor from consultant.

24
Q

How to calculate substantial performance?

A

3% - $1 000 000 of contract price
2% - $1 000 000 of contract price
1% - $ remaining of contract price

May be deemed complete if the value remaining is <1% remaining.

Example:
$24 000 000
3% of 1st $1 000 000 = $30 000
2% of 2nd $1 000 000 = $20 000
1% of remaining = $220 000
Sum = $270 000
25
Q

What is substantial completion?

A

Substantial completion

Building is now safe to occupy. Can have occupancy. Published in daily commercial news

26
Q

Certificate of publication

A

From GC

27
Q

What are shop drawings?

A
  • created by sub contractor, GC, manufacturer
  • drawings and specs
  • can be taken to shop floor to make the product
  • produced then submitted to consultant, who reviews them and checks if it matches the specs required. If it doesn’t match it gets kicked back.

Estimating (1 decks)

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