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Construction Estimating II

by: Ardith Wehner MD

Construction Estimating II CSM 4023

Ardith Wehner MD
GPA 3.68


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Class Notes
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This 2 page Class Notes was uploaded by Ardith Wehner MD on Thursday October 29, 2015. The Class Notes belongs to CSM 4023 at University of Texas at San Antonio taught by Staff in Fall. Since its upload, it has received 22 views. For similar materials see /class/231344/csm-4023-university-of-texas-at-san-antonio in Management Information Systems at University of Texas at San Antonio.

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Date Created: 10/29/15
mama UNIVERSITY OF TEXAS AT SAN ANTONIO CONSTRUCTION SCIENCE AND MANAGEMENT CSM 4023 CONSTRUCTION ESTIMATING Homework 1 WHAT IS CONSTRUCTION ESTIMATING WHAT ARE THE DIFFERENTTYPES OF ESTIMATES WHAT ARE THE DIFFERENT TYPES OF AGREEMENTS WHAT ARE THE DIFFERENTTYPES OF FEE AGREEMENTS BRIEFLY COMPARE THE DIFFERENT TYPES OF BIDDING PROCEDURES WHAT ARE THE DIFFERENCES BETWEEN A SINGLE CONTRACT AND SEPARATE CONTRACTS WHAT ARE THE MOST COMMON TYPES OF INSURANCE IN CONSTRUCTION CONTRACTING GIVE THREE EXAMPLES OF HOME OFFICE OVERHEAD wwwsnsnewvvve GIVE THREE EXAMPLES OF JOB OVERHEAD 53 BRIEFLY DEFINE THE FOLLOWING TERMS a Addenda b Bid c Approved Equal d Retainage e Home Office Overhead f Job Overhead Project Contingency qu Specifications Surety j Punch List CSM 4023 HW 1 Page 1 Estimating 11 Homework 2 1 Define 39 Bid Bond ensures that ifa contractor is awarded a bid he must enter the contract and provide all specified bonds Performance Bond guarantees the owner that the contractor will perform all work within the contract document Labor and Material Bond also known as a quotPayment Bond and ensures that the contractor will pay for all the labor and materials Subcontractor Bond performance bond given by the subcontractor to a general contractor which guarantees performance of a contract and payment of bills for labor and materials LicenselPermit Bond required by the prime contractor when a contractor s licensepermit is required by a state law or municipal ordinance 11 What is an ownercontractor agreement 39 Is an agreement between the owner and contractor containing the essential business elements of the ownercontractor relationship such as the identities of both parties a description of the work the price the time for commencement and completion procedures for payments and a list of the contract documents 111 What is the Lowest Price vs Best Value concept 39 You determine whether you receive what you paid for in the long run rather than paying the lower price up front that would not last as long as the Best Value price IV What is the biggest advantage of a unitprice agreement 39 It allows the contractors to spend most of their time working on pricing the labor and materials while checking for the most economical approach V Under what conditions are costplusfee agreements used most commonly 39 Is most commonly used when speed uniqueness and quality is needed for a project VI List the certain agreement provisions that are included regardless of the type of agreement 39 Scope ofwork time of completion contract sum progress payments retained percentage schedule of values work in place stored materials and final payments


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