Cost Databases & Resources Flashcards
7 cards from real CPE practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Cost Databases & Resources flashcards as text
Which database would be the MOST appropriate primary source for estimating the cost of renting a hydraulic excavator for a construction project?
Answer: Equipment Watch or EquipmentCost.com rental rate guides
Equipment Watch and similar equipment cost guides publish current rental rates, ownership costs, and operating costs for construction equipment.
When an estimator 'benchmarks' a cost estimate, they are comparing it against which of the following?
Answer: Historical costs for similar projects adjusted for time and location
Benchmarking compares your estimate against historical data from comparable completed projects to verify reasonableness.
The CSI MasterFormat 2016 organizes construction work into how many major groupings (numbers)?
Answer: 50 divisions grouped under four main categories
MasterFormat 2016 uses 50 divisions organized under four groups: Procurement/Contracting, Facility Construction, Facility Services, and Site/Infrastructure.
A cost database shows a unit cost of $4.50/SF for painting interior walls. An estimator's crew is less experienced than typical. Which adjustment is most appropriate?
Answer: Apply a labor productivity adjustment factor greater than 1.0 to increase labor cost
Lower crew productivity means more labor hours per SF, so a productivity factor above 1.0 increases the labor portion of the unit cost.
In the context of cost resources, what is the primary advantage of using subscription-based online cost databases over printed annual publications?
Answer: More frequent price updates and real-time market adjustments
Online databases update costs quarterly or in real-time, whereas printed books reflect prices from the prior year's data collection.
Which of the following is a limitation of using published cost databases for specialty or highly technical work?
Answer: Published databases may not capture niche specialty work and require subcontractor quotations instead
Published databases focus on common construction activities; rare or highly specialized work items are best priced through direct subcontractor quotes.
An estimator notices that the RSMeans City Cost Index for Miami, FL has a composite index of 92.5. This means that Miami construction costs are approximately:
Answer: 7.5% below the national average
A CCI of 92.5 (base 100 = national average) means Miami costs run about 7.5% below the national average overall.