Bottom up estimating - Study guides, Class notes & Summaries

Scientific Method - ANSWER-An emperical method of procedure that has characterized natural science since the 17th century, consisting in systematic observation, measurement, and experiment, and the formulation, testing, and modification of hypotheses. - Acceptable experimentation techniques to ensure results are not skewed - Objectivity needed for valid results - Peer review - Experiments must be performed and recorded in a way that it can be reproduced to verify answers The Steps of th...

Michigan Builders Study Set Final Exam with A+ Solutions What is not a step in lead paint safety? - CORRECT ANSWER-using a shopvac Each one gallon of water added to one yard of concrete will... - CORRECT ANSWERReduce the PSI strength by 150. A construction lien can be placed on? - CORRECT ANSWER-Residential, and Commercial property. Trench boxes are used.... - CORRECT ANSWER-to protect workers in deeper excavation. About how much does a yard of dirt weigh? - CORRECT ANSWER- lbs The ...

State Farm Estimatics Exam Questions with 100% Correct Answers Removal of shingles estimate for the actual number of squares (not square feet). No estimating or rounding Replacement of shingles a) Include waste in the calculation -10% - Composite -15% - wood b) Round up to the nearest bundle -Assume 3 bundles per SQ for composite shingles -Assume 4 bundles per SQ for wood What do wood shingle estimates always end with? fourths. .25, .5, .75, .00 What do composite shingle...

What are the benefits of Budgeting? - Answer-1. Control of your Expenses (Revenue Ratio) Expenses > Revenue = LOSSES 2. Coordinate Activities (Budget for ALL Departments and activities) Develop a budget for all major HR 3. Set some performance standards (Goal for Sales and Operational Budgets) 4. Evaluation Tool (Deviation Analysis +- Comparison to actual results to planned (budgeted) 5. Corrective & Remedial control (Take necessary action to prevent future over expenditures or under s...

CPCM EXAM QUESTIONS & ANSWERS 2024/2025 Analogy - ANSWERSA cost estimating technique that involves the following characteristics and considerations: 1-estimates based on similar projects or products 2-Must be able to identify differences 3-must be able to isolate the differences and account for the cost impact of those differences 4-often used for "sanity checks" Award life cycle phase - ANSWERS1-This is the second of three life cycle phases of contract management. The award proces...

CAPM Exam 196 Questions with Verified Answers Cost Variance formula - CORRECT ANSWER Earned Value (EV) - Actual Cost (AC) What are the 6 constraints? - CORRECT ANSWER Scope, Risk, Resources, Quality, Schedule, Budget Initiating (Process Group) - CORRECT ANSWER Processes performed to define a new PROJECT or a new PHASE of an existing project Planning (Process Group) - CORRECT ANSWER Processes performed to establish total scope of effort, define and refine objectives, and develop a cou...

Obstetrics/ Maternity Practice Exam 103 Questions with Verified Answers The nurse is preparing a client with a term pregnancy who is in active labor for an amniotomy. What equipment should the nurse have available at the client's bedside? (Select all that apply.) A. litmus paper B. fetal scalp electrode C. a sterile glove D. an amniotic hook E. sterile vaginal speculum F. a doppler - CORRECT ANSWER C. A sterile glove D. An amniotic hook F. A doppler A single sterile glove, an a...

State Farm Estimatics Exam Questions With 100% Correct Answers Removal of shingles estimate for the actual number of squares (not square feet). No estimating or rounding Replacement of shingles a) Include waste in the calculation -10% - Composite -15% - wood b) Round up to the nearest bundle -Assume 3 bundles per SQ for composite shingles -Assume 4 bundles per SQ for wood What do wood shingle estimates always end with? fourths. .25, .5, .75, .00 What do composite shingle estimates a...

CAPM EXAM PREP 97 Questions with Verified Answers Initiation Process - CORRECT ANSWER Obtain authorization to start a new project or phase on an existing project Planning Process - CORRECT ANSWER Establish the scope of the project, refine the objectives and define the course of action required Executing Process - CORRECT ANSWER Complete the work defined in the project management plan to satisfy the project specifications Monitoring and Controlling Process - CORRECT ANSWER Track, revi...

ESTIMATING PROJECT COSTS 3 Introduction Many businesses are working within a specific budget and timeline when initiating projects. Jet On Demand, a company that brokers private flights for companies and consumers, wants to create an app for both Android and iOS users to book a flight. The Project Manager has a 7-month timeline and a $250k budget for the project. The project is currently in the planning phase, and the team still needs to complete a cost estimation and management plan for t...