Describe the two stages involved in pricing an estimate.
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Q: Markup pricing is typically used by building or industrial contractors. Give an explanation as to…
A: Step: 1 Markup price: - It is defined as the difference between cost price to make building and the…
Q: The significant feature of ‘unit price contract’ is that the price per unit. Although quantities may…
A: In a unit price contract, the contractor is relieved of the risk of estimating uncertain quantities…
Q: Provide a technical justification for the following: i. Formula for price adjustment (escalation)…
A: Price adjustments on account of increases or decreases in the costs of products and services in…
Q: What are the three degrees of accuracy that are acknowledged in capital cost estimation?
A: Here is the explanation of the three degrees of accuracy that are acknowledged in capital cost…
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Q: When are the unit price contracts used?
A: Introduction to Unit price contract Unit Price method is the kind of contract in which total cost of…
Q: Determine four reliable sources of building material pricing data
A: Here is the four reliable sources of building material pricing data.
Q: Describe the procedure of how partial payments to the contractor is done?
A: Partial payment is also called as progress payments. These payments are based on the percentage of…
Q: How can we calculate depreciation of any equipment?
A: Depreciation- It is defined as a technique that allows an organization to list its asset value over…
Q: Explain how an estimate is priced in two phases
A: Introduction: Estimated pricing is defined as an approximation of the project's cost. The…
Q: On lump-sum contracts, what are the two methods available toutilize a PC computer in determining…
A: Lump-sum contracts : In lump sum construction contract, contractor fix a single fixed price for all…
Q: What annual interest rate (%)
A:
Q: Describe the different types of payments in construction industry
A:
Q: A practice related to construction finance that can be interpreted as unethical is: A. front-loading…
A: There are many practices in the construction which are interpreted as unethical Bribing…
Q: Problem2. Josh created two cash flow diagrams shown at the bottom of this page. The cash flows for…
A: Given:- interest rate=10% two cash flow diagrams To find:- Annual worth over life cycles
Q: Who provides performance and payment bonds?
A: For several construction projects a payment bond is needed.
Q: What are the Loss and Expense heads of claim?
A: The loss and expense is a claim in the construction contracts which is presented by the contractor…
Q: Why is the accurate pricing of labor and equipment very difficult on some projects?
A: The labor and equipment are the most important part of any project. They both are connected to each…
Q: In the given project, the expected markup is 30%, four payments are expected to be paid to the…
A: Plot the given data:
Q: When a company is going to invest cash that they have on hand in a development, what discount rate…
A: Construction management is the back bone of the civil engineering. Under construction management…
Q: Describe how computers can help with the first stage in pricing an estimate.
A: Computers are one of the most useful tool in the sorting and listing phase, and even the recap phase…
Q: List Five Price Categories that need to be Considered when Pricing an Estimate
A: Project costs are cost required to carry out a planned business endeavor and they are a key topic in…
Q: How are cost reports used by an estimator
A: Uses of Cost report:
Q: is rate of return resulting from the shuffling of funds within a company from project to project.…
A: Explanation - Internal rate of return is a rate of return calculated from available cash flow and…
Q: Of all the prices that are contained in a contractor’s bid, which items hold the most risk for the…
A: Accurate estimating is important to the profitability of a construction company. If the job is…
Q: Name two types of negotiated contracts and describe themethod of payment and incentive concept.
A: There are two types of negotiated contracts are as follows: 1) Cost+Percent of cost 2) Cost+Fixed…
Q: Explain the significance of unit cost in the context of a task order pricing structure.
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Q: 1. Write the objectives and procedure of value engineering. Assume a sum of $10,000 is invested for…
A: Objectives and procedure of value engineering: The main objective is to cut back project price,…
Q: An employee is earning $ 18,000 a month and he can only afford to purchase a car which will require…
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Q: How can the measurement for payment be done?
A: The unit of measurement applicable for which payment will be made for facilities of the water system…
Q: What would be the result of failure to agree on change order pricing?
A: A change order is a work that has been removed or attached to the original contract of work, but…
Q: What is the purpose of a price allocation form?
A: The price allocation form is a start to finish list of work item on a project that represent the…
Q: How much of an impact does a formal schedule have on the subcontractor's ability to make a profit?
A: A construction schedule is a timetable for each activity and event in a building project. The…
Q: Differ between the unit price contract and contract price?
A: The contract which is made upon the basis of estimation of the unit price of materials used in the…
Q: How are the field cost indexes derived?
A: Field Cost indices in construction : Most of the information used to compile construction price…
Q: nswer #5 only
A:
Q: What is the purpose of the notice to bidders?
A: Purpose of the notice to bidders:
Q: 30. The excess between the selling price and total variable costs is known as?
A: Factual definition based question is asked please refer step 2 for detailed explanation and…
Q: What are the examples of unit price contracts?
A: The estimated quantities of items and unit prices on the hourly rates, rate per unit work volume…
Describe the two stages involved in pricing an estimate.
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- Does every claim include some form of estimate?10. Discuss what is the intended use for each of the following cost models? a. Project budget b. Project cost breakdown or schedule of values c. Progress estimates d. Change order estimates e. Project cash flow f. Final estimateWhat are the three degrees of accuracy that are acknowledged in capital cost estimation?