Estimating Practice Exam

What is the purpose of preparing the recap in estimating?

1. To sum up all costs for the project

2. To assess overall project timeline

3. To concentrate on the needs of one trade at a time

4. To organize subcontractor bids

The correct answer is: To concentrate on the needs of one trade at a time

The purpose of preparing the recap in estimating primarily revolves around summarizing and organizing all relevant data related to a project. When you prepare a recap, you gather and present an overview of various costs and aspects associated with the estimate, which helps in evaluating the financial feasibility and efficiency of project execution. Choosing to concentrate on one trade at a time can support the overall process of estimation and allow for detailed attention to specific requirements, but it doesn’t fully encompass the primary purpose of the recap. The recap serves a broader function, encompassing gathering costs from multiple trades, reviewing bids, and making comparisons across different project components to ensure accuracy and comprehensiveness in the overall project estimate. The other options touch on useful aspects of project estimation; summing up all costs (which is often a feature of the recap), assessing project timelines (which is essential for strategic planning but typically done separately), and organizing bids (an important part of the estimating process, but again more focused than the recap’s overall role). The recap is more about consolidating this information into a clear overview necessary for decision-making.