Question: A construction cost estimate serves one of the three basic functions: design, bid, and control. Which of the following is NOT an explanation for these

A construction cost estimate serves one of the three basic functions: design, bid, and control. Which of the following is NOT an explanation for these functions? Group of answer choices In design estimates, preliminary estimates need more design information than engineer's estimates based on plans. Either a design estimate or bid estimate is used for the project finance establishment. For the contractor, the direct cost of construction for bid estimates can be derived from quantity takeoffs. A control estimate is used for monitoring the project during construction

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

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 General Management Questions!

MaDonna's has just completed an initial public offering. The firms sold 6 million shares at an offer price of $16 per share. The underwriting spread was $.50 per share. The price of the stock closed...

Please make the C++ program that follow the below steps ------------------------------------------------------------------------------- -----------------------------------------------------------...

What are the responsibilities of the board of directors in a corporation? a. Hire and fire entry level employees. b. Amend the firm's corporate charter when necessary. c. Manage day-to-day...

Read the article and write summary in your own words. Avoid the Four Perils of CRM by Frederick F. Reichheld, Phil Schefter, and Darrell K. Rigby From the Magazine (February 2002) Harvard Business...

Read the article and answer: The authors of the HBR article assert that successful CRM depends more on strategy than on the amount you spend on technology. Why is it so? What do you understand by a...

Page 1 of 5 ASSIGNMENT # 2 - ESTIMATION Cost estimating is one of the most important steps in project management. A cost estimate establishes the base line of the project cost at different stages of...

Read the article on Alternative Dispute Resolution. Then read the Gulf Island Pond scenario. Answer the following questions: 1. How would you use ADR to attempt to resolve the issues in this...

See Park City_CAFR_ 2014.pdf See ACC530_CAFR Project_S15.doc Pls help me answer the Part 8-Part 10 of the CAFR project. ACCT530- Accounting for Public Sector Entities CAFR Project Due Friday, April...

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...

can any expert help me with the below assignment just only 2 questions ,please read the requirment word by word and be careful about the style of the reference(APA) , file 3.1 is for question...

A non-uniform magnetic field exerts a net force on a magnetic dipole. A strong magnet is placed under a horizontal conducting ring of radius r that carries current I as shown in Figure P29.17. If the...

Frenchie Co. manufactures and sells Fishies, a useful and novel food prep utensil. Fishies are sold across the US and Canada in several different retail stores at a price of $22 per unit. In 2023,...

Calculate Net Present Value (NPV) for a project with a projected gross annual cash inflow of $700 and associated annual expenses of $200. The initial investment required for the project is $1,500....

QUESTIONS st X 5 6 1) Solve the Linear Programming problem given below by graphical method. a) (15 points) Show feasible region b) (10 points) Find optimal solution c) (5 points) Determine...

6. Based on the following distributional norms, discuss what you think should be the norms basis of your workplace / school. Prioritize the distribution norms as you think they should be used: a) It...

4. In what way is a values system crucial to a communication process?

3. How can rumours about someone contribute to creating the behaviour we expect him / her to have? Use examples from your own everyday life.