What is the main purpose of a schedule of rates in construction procurement?
Correct answer: D. To list agreed unit rates for commonly measured work items
- A. To certify the final quality of completed construction work
- B. To record the names of workers assigned to each activity
- C. To show the sequence in which project activities are completed
- D. To list agreed unit rates for commonly measured work items
Explanation
A schedule of rates contains unit prices for specified work items and can support valuation or pricing where final quantities are not known in advance. It does not replace the construction programme or quality records.
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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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