Planning and Estimating Flashcards
7 cards from real General Contractor License practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Planning and Estimating flashcards as text
What does the term 'contingency allowance' mean in a construction estimate?
Answer: A reserve fund for unforeseen costs during the project
A contingency allowance is a percentage-based reserve added to an estimate to cover unforeseen or uncertain costs.
Which scheduling method uses arrows to represent activities and nodes to represent events?
Answer: Arrow Diagramming Method (ADM)
The Arrow Diagramming Method (ADM) uses arrows for activities and circles (nodes) for start/end events.
What is the purpose of a quantity takeoff in estimating?
Answer: To measure and list all materials and work items from the plans
A quantity takeoff (QTO) involves systematically measuring all materials and work items from drawings to form the basis of an estimate.
A project's direct costs are $800,000 and overhead is 12%. What is the total cost before profit?
Answer: $896,000
$800,000 × 1.12 = $896,000 total cost before profit.
Which document defines the full scope of work that a contractor must perform on a project?
Answer: Scope of work / specifications
The scope of work, typically detailed in the specifications and contract documents, defines exactly what the contractor is required to perform.
What is 'float' (or slack) in a project schedule?
Answer: The amount of time an activity can be delayed without delaying the project completion
Float is the amount of time a non-critical activity can be delayed without affecting the overall project end date.
When calculating labor costs in an estimate, which factor accounts for payroll taxes and benefits?
Answer: Burden rate
The burden rate (labor burden) is the percentage added to base wages to cover payroll taxes, insurance, and benefits.