A revised estimate for a public works project is generally prepared when:
Correct answer: D. The approved cost is expected to be exceeded substantially
- A. The final account has already been settled
- B. The contractor submits the first interim bill
- C. The site layout requires minor rearrangement
- D. The approved cost is expected to be exceeded substantially
Explanation
A revised estimate updates the sanctioned cost when changes in quantities, rates, or scope are likely to cause a substantial excess. An interim bill and site rearrangement do not by themselves require a revised estimate.
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About Construction Management and Estimation
Construction management covers planning, scheduling, resource control, contracts, procurement, site organisation, safety, quality assurance and project documentation. Estimation includes quantity take-off, rate analysis, bill preparation, valuation and cost control, with attention to the difference between direct and indirect costs and between an estimate, a tender and a final account.
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