Estimating Practice Exam

When starting the estimating process, what can the estimator check off on the summary sheet?

1. Subcontracted trades only

2. Trade margins only

3. Trades completed by own forces and those subcontracted

4. Material costs exclusively

The correct answer is: Trades completed by own forces and those subcontracted

The correct response indicates that an estimator can check off trades completed by their own forces and those that are subcontracted on the summary sheet. This is significant because the summary sheet serves as an essential overview for the estimating process, allowing the estimator to consolidate and organize critical information about the project. By including both trades completed by the company's own forces and those that are subcontracted, the estimator gets a comprehensive view of the labor involved in the project, which is crucial for accurate cost estimation. This allows for a better understanding of resource allocation, labor rates, and overall project costs, ensuring that no part of the project is overlooked in the estimating process. In contrast, focusing solely on subcontracted trades, trade margins, or material costs would neglect significant aspects of the overall estimation. A full assessment would require considering all resources engaged, whether self-performed or subcontracted, to establish a complete and reliable project estimate.