Question: Why should a GC estimator prepare an early ROM estimate? Why should they later refine that estimate with subcontractor OM estimates?

Why should a GC estimator prepare an early ROM estimate? Why should they later refine that estimate with subcontractor OM estimates?

Step by Step Solution

★★★★★

3.34 Rating (145 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

A GC General Contractor estimator prepares an early ROM Rough Order of Magnitude estimate and later refines it with subcontractor OM Order of Magnitude estimates for several reasons 1 Early ROM Estima... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Construction Cost Estimating Questions!

sell (birthdate February 2, 1970) and Linda (birthdate August 30, 1975) Long have brought you the following information regarding their income and expenses for the current year. Russell owns and...

THIRD AVENUE SOFTWARE HEALTH-CARE APP PROJECT This case is new for the ninth edition of Information Technology Project Management . The case provides an opportunity to apply agile and Scrum...

Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...

Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...

Prepare a close-out log for the hotel case study. Include at least ten subcontractor and supplier categories. Make whatever assumptions are necessary. Hotel Case Study: Many additional elements are...

pLEASE po pa help! Reflection po about dto sa mga Framework for Project Management 4. Framework for Project Management Many different professions contribute to the theory and practice of project...

DUCTION TO CONSTRUCTION ESTIMATING By Brian L. Swope, MTM, CCM Bowling Green State University College of Technology WHAT IS AN ESTIMATE? It is an assessment of the probable total cost of a project...

1. Isaac Inc. began operations in January 2013. For certain of its property sales, Isaac recognizes income in the period of sale for financial reporting purposes. However, for income tax purposes,...

Case Study Ribera, J. (2018). Agile project management. IESE Business School. https://www.thecasecentre.org/programmeAdmin/products/view?id=154257 Objectives Upon successful completion of the case...

Project Time and Cost Management: Running Case Complete the two tasks associated with project time management and the three tasks associated with project cost management. (total of five tasks) Put...

Project Time Management: Case Study Tony Prince is the project manager for the Recreation and Wellness Intranet Project. Team members include you, a programmer/analyst and aspiring project manager;...

Elway decided to incorporate, and Elway Corporation was created on January 1, 2019. Elway Corporation is authorized by its articles of incorporation to issue 100,000 shares of $10 cumulative...

Mountain Stream Trout Co. agreed to buy market size trout from trout grower Lake Farms, LLC. Their five- year contract did not define market size. At the time, in the trade, market size referred to...

6 A is the point (-8, 0), B is the point (6, 0) and C is the point (4, 10). Work out the midpoint of the line segments 6 a i AB b ii AC iii BC. Draw a coordinate grid. Plot the points A, B and C....

Garth dies in 2009 and is survived by his wife, Daisy, and four adult children. Among the items included in his gross estate are the following. Fair Market Value Apartment building $2,900,000...

Whindy Corporation, an S corporation, reports a recognized built-in gain of $80,000 and a recognized built-in loss of $10,000 this year. Whindy holds an $8,000 unexpired NOL carryforward from a C...

Flint, an S corporation with substantial AEP, reports operating revenues of $410,000, taxable interest income of $390,000, operating expenses of $260,000, and deductions attributable to the interest...

Bonnie and Clyde each own one-third of a fast-food restaurant, and their 13-year-old daughter owns all of the other shares. Both parents work full-time in the restaurant, but the daughter works...

public void changeOwner(BookStoreOwner currentOwner, BookStoreOwner newOwner) Allows the current owner of this book store to give this book store to a new owner. Parameters: currentOwner - the...

Prevosti Farms and Sugarhouse pays its employees according to their job classification. The following employees make up Sugarhouse's staff: Employee Number Name and Address Payroll information...

The least severe type of report for disclosing departures from generally accepted accounting principles is the a. qualified opinion. b. report on unaudited financial statements. c. adverse opinion....