Lesson 1906 — Estimating For Design-build

8 Questions | Total Attempts: 20

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Lesson 1906  Estimating For Design-build

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Questions and Answers
  • 1. 
    1) While it seems that every remodeler has their own unique estimating system, it can be said that most successful estimators use a common core set of processes. 
    • A. 

      A) True

    • B. 

      B) False

  • 2. 
    2) Producing an accurate and sellable estimate starts with what? 
    • A. 

      A) Having a great design

    • B. 

      B) Understanding the design process

    • C. 

      C) The client interview

    • D. 

      D) The first estimate of project cost

  • 3. 
    3) The accuracy of the ballpark estimate is based on             
    • A. 

      A) the experience of the salesperson. 

    • B. 

      B) the assessment of the property's existing conditions.

    • C. 

      C) the value of the existing structure. 

    • D. 

      D) A and B

  • 4. 
    4) Those involved in the estimating process do not need to receive any feedback about how their projects have performed financially. 
    • A. 

      A) True

    • B. 

      B) False

  • 5. 
    5) In order for the designer to meet the company's required profit margin, they               
    • A. 

      A) need to understand the cost of each design option. 

    • B. 

      B) must create bare bones designs. 

    • C. 

      C) should design only the highest value projects.

    • D. 

      D) should cater solely to the client's needs. 

  • 6. 
    6) Professional remodelers only use software estimating tools because they are the easiest to keep up-to-date with material cost and labor values. 
    • A. 

      A) True

    • B. 

      B) False

  • 7. 
    7) With any method of estimating, the accuracy of the estimate is only as good as the cost data it is based on. 
    • A. 

      A) True

    • B. 

      B) False

  • 8. 
    8) Why is it important to input your cost estimates into your accounting systems? 
    • A. 

      A) You can use the accounting system to generate your proposal

    • B. 

      B) It is an easy way to keep a record of estimate

    • C. 

      C) You can use it as a comparison as actual data is input into the system

    • D. 

      D) It is not important to input the estimate into an accounting system