Estimating, Bidding, and Cost Control Flashcards
6 cards from real CSLB practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 Estimating, Bidding, and Cost Control flashcards as text
Which estimating method uses cost-per-square-foot figures from similar past projects to produce a quick early estimate?
Answer: Parametric estimating
Parametric estimating uses statistical relationships between historical data (e.g., cost per square foot) and project parameters to quickly estimate costs in early project phases.
A contractor's 'labor burden' includes which of the following in addition to base wages?
Answer: Payroll taxes, insurance, workers' comp, and benefits
Labor burden includes all employer-paid costs beyond base wages: FICA taxes, FUTA, SUTA, workers' compensation premiums, health insurance, and other benefits.
When preparing a bid, a contractor discovers a material error in their calculations after submitting. Under California law, the contractor may typically:
Answer: Withdraw the bid without penalty by notifying the owner promptly
California Public Contract Code permits a bidder who discovers a clerical or material error to withdraw their bid without forfeiture of bid bond if they promptly notify the owner before award.
Which document defines exactly what the contractor is responsible for building and forms the basis of the bid?
Answer: The specifications and drawings (contract documents)
The specifications and drawings together constitute the contract documents, defining the scope, materials, and standards the contractor must meet — these are the basis of the bid.
On California public works projects, a prime contractor typically must perform at least what percentage of the work with their own forces?
Answer: 25%
California Public Contract Code generally requires a prime contractor on public works to self-perform at least 25% of the work, limiting how much can be subcontracted out.
What is the purpose of a 'contingency' allowance in a construction estimate?
Answer: To account for unforeseen conditions and estimating uncertainties
A contingency allowance provides a financial buffer within the estimate or budget to cover unforeseen conditions, minor scope changes, or estimating inaccuracies.