HCC Healthcare Construction Cost Estimating & Budget Management 2

Question 1

Which document formally authorizes a change to the contract sum or schedule in a healthcare construction project?

Accepted Answer

Change Order

Answer

A Change Order is the formal written agreement between the owner and contractor that modifies the contract amount, schedule, or scope of work and requires signatures from all parties.

Question 2

In construction cost accounting, 'cost codes' are primarily used to:

Accepted Answer

Categorize and track costs according to specific work activities or phases

Answer

Cost codes provide a standardized categorization system that allows project teams to allocate, track, compare, and analyze costs by specific work activities, phases, or CSI divisions.

Question 3

What distinguishes a 'contingency' from an 'allowance' in a healthcare construction budget?

Accepted Answer

Contingency covers unforeseen events; allowance is for known but undefined scope items

Answer

An allowance is set aside for a known scope item whose cost isn't fully defined yet, while a contingency covers unforeseen events or unanticipated scope changes that may arise during construction.

Question 4

Earned Value Management (EVM) primarily helps a healthcare construction project manager:

Accepted Answer

Measure project performance by comparing planned versus actual cost and schedule

Answer

EVM integrates scope, cost, and schedule metrics to assess current project performance and forecast final cost and completion date.

Question 5

When preparing a healthcare construction budget, which CSI MasterFormat division primarily covers HVAC systems?

Accepted Answer

Division 23 – HVAC

Answer

Division 23 of the CSI MasterFormat covers Heating, Ventilating, and Air-Conditioning (HVAC) systems, which are critical in healthcare environments for infection control and patient comfort.

(HCC) Healthcare Construction Certification Practice Test

(HCC) Healthcare Construction Certification Practice Test

HCC Healthcare Construction Cost Estimating & Budget Management 2