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1. What is an important operation that should be done first when completing the

ID: 1712741 • Letter: 1

Question

1. What is an important operation that should be done first when completing the estimate? 2. Which form is used for completing the estimate? 3. The bid form is organized into five general sections. What does each section represent? 4. How are the general conditions and direct work subtotals checked? 5. What percentage range is used as a guide when comparing the total of the general con- ditions estimate against the total bid amount? 6. What is labor burden? 7. When would an amount be entered for a subcontractor bond? 8. What are the components of the fee? 9. What are four factors to consider in determining the fee? 10. What is a first-run estimate and how is it used? 11. What is the function of the first-run estimate on bid day?

Explanation / Answer

Once estimation was done the next operation was getting approval for technical sanction.