Which cost estimating method would be most appropriate for a preliminary budget estimate during the design development phase?
Correct Answer
A) Square foot method
The square foot method is ideal for preliminary estimates when detailed drawings are not available. It provides quick, reasonably accurate cost estimates based on building area and type.
Why This Is the Correct Answer
The square foot method is most appropriate for preliminary budget estimates during design development because it provides quick, reasonably accurate cost estimates when detailed drawings and specifications are not yet available. This method uses cost per square foot based on building type and can be calculated with minimal information. It strikes the right balance between speed and accuracy needed during early design phases when major design decisions are still being made.
Why the Other Options Are Wrong
Option B: Historical cost method
The assemblies method requires more detailed information about building systems and components than is typically available during early design development, making it more suitable for later design phases.
Option D: Detailed unit cost method
The detailed unit cost method requires complete drawings, specifications, and material takeoffs to calculate costs for individual components, making it too detailed and time-consuming for preliminary estimates during design development.
Memory Technique
Think 'Square foot = Quick start' - both have similar sounds and the square foot method gives you a quick start on preliminary estimates
Reference Hint
Look up cost estimating methods in the project management or estimating chapter of your contractor reference manual
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