CONSTRUCTION COST ANALYSIS AND BIDDING - Assgn 1

COURSE: CONSTRUCTION COST ANALYSIS AND BIDDING

LEVEL: GRADUATE

ASSIGNMENT # 1

TOTAL POINTS: 100

LEARNING OBJECTIVES:

After successfully completing this assignment, students will be able to:

• Differentiate between various construction processes

• Differentiate between various methods for cost estimation

Q1. Estimate the preliminary cost of constructing a single family one-story, 2,000-ft2 average-

quality home (you can choose any location). The home is constructed with wood siding on a

wood frame and includes a two-car detached garage, 300-ft2 porch, two and one-half baths, one

fireplace (internal chimney with two flues), cedar shakes, air- conditioning utilizing the heating

ductwork, and a full, unfinished basement. You can use Means Cost Data online, library copy or

the cost data sheet attached. Please refer all the cost resources you have used for your work

(Include a list of assumptions (if any) you have made to calculate the cost).

40 points

Cost Data Source

Attached cost data sheet will be sufficient for this assignment. You can make any

assumptions as needed and provide the list of those assumption in the beginning of the

assignment.

Q2. Search online for a copy of sample contract agreement document and answer the

following questions (you have to attach the copy of sample contract with your work):

a. What type of agreement (lump-sum, unit-price, or cost plus-fee) is used for the project? If it is a cost- plus-fee agreement, how is the fee determined, and is there a guaranteed

maximum price?

b. What provisions are included in the contract documents regarding the time of completion? What penalties are there for failing to meet the completion date? Is there a

bonus for completing the project ahead of schedule?

c. How are progress payments handled? When are they due? How quickly will they be paid?

d. Will retention be withheld? What are the requirements for the release of retention? e. How is final acceptance handled? What inspections are required? What forms,

documents, maintenance and operation manuals, certifications, red-line drawings, and so

on need to be submitted before final acceptance?

f. What bonds and insurances are needed for the job? 60 points

Data Sources

Some of the sample contract documents can be downloaded by clicking the following links:

https://www.montrosecounty.net/DocumentCenter/View/823/Sample-Construction-Contract

https://www.smgov.net/uploadedFiles/Departments/Public_Works/AdminSvcs_-

_Architecure/SAMPLE%20CONSTRUCTION%20CONTRACT%20(4-16).pdf

https://uh.edu/legal-affairs/cmar_ogc-s-2013-01_revised-05.01.2019.pdf

https://www.inf.gov.nt.ca/sites/inf/files/resources/construction_contract_0.pdf

https://formswift.com/downloads/construction-contract/construction-contract.pdf

Quote of the week:

“Our greatest weakness lies in giving up. The most certain way to succeed is always to try just

one more time.” – Thomas A. Edison