Project Planning and Estimation Flashcards
6 cards from real Renovation Contractors practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 Project Planning and Estimation flashcards as text
What is a 'scope of work' document in renovation contracting?
Answer: A detailed description of all work to be performed under the contract
A scope of work clearly defines all tasks, materials, and deliverables the contractor is responsible for, reducing misunderstandings and disputes.
Which estimating method involves calculating the cost of each individual component of a project?
Answer: Unit cost estimating
Unit cost estimating breaks a project into individual units (per door, per linear foot of trim, per outlet) and multiplies by the applicable unit price for accuracy.
What is a 'contingency allowance' in a renovation project budget?
Answer: A reserve fund for unforeseen costs
A contingency allowance is a percentage (typically 10–20%) added to the budget to cover unexpected costs like hidden damage discovered during demolition.
What does a 'critical path' represent in renovation project scheduling?
Answer: The sequence of tasks that determines the minimum project duration
The critical path is the longest sequence of dependent tasks; any delay to a task on the critical path directly extends the overall project completion date.
In renovation estimating, what does 'overhead' include?
Answer: Indirect business costs like insurance, office expenses, and vehicle costs
Overhead covers indirect costs required to run the business (insurance, office rent, vehicle expenses, administrative salaries) that are not directly tied to a specific project.
What is the purpose of a 'pre-construction meeting' with a homeowner?
Answer: To align on project details, schedules, access, and expectations before work starts
A pre-construction meeting ensures both parties agree on schedules, site access, dust control, daily cleanup expectations, and communication protocols before work begins.