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Question 1

Detailed estimate based on design information ready to be issued for tender

Answer 1

Pre-tender Estimate

Question 2

These are techniques concerned with defining, maximizing, and achieving value for money

Answer 2

Value Management

Question 3

It is a budget distribution technique that is implemented during the design stages of a building project.

Answer 3

Cost planning

Question 4

It is defined as the present value of total cost of the asset over its operating life

Answer 4

Life-cycling Costing

Question 5

It is a process that allows one to make an assessment, judgment or view ion cost which is dependent in various factors, parameters or levels of information availble

Answer 5

Estimating

Question 6

When using published information as source of cost information, Qs’s need to consider that the initial quotaions are high

• true
• false
• it depends on the relationship between the parties
• depend on the project location

Answer 6

False

Question 7

Provides both a work breakdown structure (WBS) and a cost breakdown structure (CBS)

Answer 7

Cost plan

Question 8

The advantages of cost plan includes:
- Efficiently spreads the cost between different element of the building
- ensure beat value for money
- Assist the design team to control building cost
- all of the above

Answer 8

all of the above

Question 9

The organizes the process of briefing, designing, constructing, maintaining, operating, and using building projects into a number of key stages

Answer 9

RIBA Plan of Work