Project Estimation & Cost Bidding Flashcards
7 cards from real CPI practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Project Estimation & Cost Bidding flashcards as text
When preparing a bid for a large commercial installation, which document typically outlines the scope of work, materials, and performance requirements the installer must meet?
Answer: Specification sheet
Specification sheets define the required materials, workmanship standards, and performance criteria that a bid must address.
A contractor receives a request for proposal (RFP) with a tight submission deadline. What is the BEST first step before estimating costs?
Answer: Perform a thorough site walk-through and scope review
A site walk-through and scope review ensures the estimate reflects actual conditions and avoids costly omissions.
In project estimation, 'quantity takeoff' refers to which activity?
Answer: Measuring and counting all materials needed from project drawings
Quantity takeoff is the process of measuring dimensions and counting items from blueprints to determine material quantities.
Which type of estimate is typically used early in a project when design details are incomplete?
Answer: Parametric estimate
Parametric estimates use statistical relationships between historical data and project parameters to estimate costs when full details are unavailable.
A customer requests that an installer add extra outlets not included in the original bid. How should the installer handle this addition?
Answer: Issue a change order with revised pricing before performing the work
A change order documents scope changes and adjusts the contract price, protecting both the installer and the customer.
What does a 'unit price contract' mean for an installer bidding on a project?
Answer: The installer is paid a set price per unit of work completed
Unit price contracts pay the installer a fixed rate per measured unit (e.g., per linear foot or per outlet installed), adjusting final cost based on actual quantities.
When estimating labor costs for an installation project, which factor is MOST critical to account for?
Answer: Crew productivity rates and local prevailing wages
Crew productivity rates and local wage scales directly determine labor cost accuracy in any installation estimate.