CM 3111 EXAM 1 Questions and Answers 100% Solved | Rated A+
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Course
CM 3111
Institution
CM 3111
CM 3111 EXAM 1 Questions and
Answers 100% Solved | Rated A+
estimating - the determination of probable construction costs for a
project that are prepared from the contract documents.
to establish project budget and order materials - what is estimating in
construction used for?
profit margin -...
express the statistical relationship between building parameters and the
cost of the building
model estimating - ✔✔type of estimate that uses computer models to
prepare an estimate based on a number of questions answered by the
estimator
project comparison estimate - ✔✔a type of estimate that is prepared by
comparing the costs of a proposed project to a similar project
quantity takeoff - ✔✔some skills that you need for ______ include: read
and quantify plans, knowledge of math and geometry, patience, doing
careful, thorough work, computer literate
competitive bidding - ✔✔a type of bid that involves each contractor
submitting a lump sum bid or a proposal that is awarded based upon price
and best value
negotiated bidding - ✔✔a type of bid in which the parties arrive at a
mutually agreed upon price, terms and conditions, and contractual
relationship.
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