TUT-5 Project Cost Estimation

Q1: …..Means Illustrated Project Dictionary “The anticipated cost of

materials, labor, equipment, or any combination of these for a proposed
construction project”
A. Planed
B. Estimation
C. Cost

Q2: Cost Estimate Uses

A. Means Illustrated Project Dictionary “The anticipated cost of

materials, labor, equipment, or any combination of these for a
proposed construction project
B.Assists Designer in making material and design decisions to
maximize owner value

c.all above

Q3: What determines an Estimates Accuracy?

A. Good Scope (Program) definition

B. Adequate preparation time and Good/reliable cost information
C. All above

Q4: the following consider as Estimate Considerations for the project

A. Project Quality
B. Market Conditions
C. All over

Q5: The process of ………. determines an amount of resources required to

accomplish project activities.

A. Cost reduction
B. cost estimation.
C. None above
Q6: what are the Sources of Cost Information?
A. Current Records
B. Subcontractor Quotations
C. All above

Q7: Old Estimates and Experience are considered as

A. Customer and Vendor (Third Parties)

B. Cost management
C. Sources of Cost Information
Q8:
It is the processes involved in planning, estimating, budgeting, and
controlling costs so that the budget can be completed within the approved
budget

A. Project Cost Management

B. Project Status Report Template
C. Cost control
Q9:
They are considered the Project execution phase steps?
A. Monitor execution of task assignments Deliverable, Project
B. Track project status at regular intervals and at project milestones
C. All above

Q10: Project Cost Management includes ………..to help you complete your
project within the approved budget

A. activities and tools

B. ideas
C. None Above

Q11: To manage your project costs effectively, there are ……….key processes
you need to be able to perform

A. three
B. four
C. six
Q12: it is considered as Project Cost Estimating

A. Project Cost Estimating.

B. Project profit Estimation
C. None above

Q13: Project cost estimating is the process of approximating how much it will
……the project activities.

A. cost to complete
B. Spend to complete
C. To budget

Q14: it is known as Office Overhead?

A. Owner Engineer / Project Manager and Estimator(s).
B. Secretary / Receptionist and Bookkeeper None a above
C. All above

Q15: Once you’ve estimated the costs for all of the project activities, you will
have the information you need to create your project’s ……….

A. cost baseline
B. profit
C. Budget

Q16: Once you have an approved budget and cost baseline, your project is
ready to move into the…...?

A. None above
B. Planning phase
C. execution phase

Q17: PV - Planned Value, means …….?

A. Earned value
B. estimated value of the planned work
C. None above
Q18:
BAC is ……., the budget for the total job

A. Budget at Completion
B. Budget estimation
C. Cost estimation
Q19: VAC –is …….., how much over/under budget do we expect to be?:-
A. Variance at execution phase.
B. None above
C. Variance at Completion
Q20: ETC –……….., forecasted costs to complete job
A. All above
B. Estimate to Complete
C. Estimation to cost

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Good Luck Dr_Tharwat