2. Project Planning

Cost Estimating — Quiz

Test your understanding of cost estimating with 5 practice questions.

Practice Questions

Question 1

Which of the following is a key advantage of parametric estimating in early project phases?

Question 2

A parametric rate for earthworks is \\$8 per cubic meter. For a project requiring 1{,}250\,m^3 of excavation, what is the base cost estimate?

Question 3

A previous project in 2015 cost \\750{,}000. The cost index in 2015 was 95 and the current index is 125. Using index adjustment, what is the inflation-adjusted cost?

Question 4

If a base cost estimate is \\$1,200,000 and a contingency of 7\\% is applied, what is the total cost including contingency?

Question 5

In contingency planning, 'unknown-unknowns' refer to risks that...