The Bill of Quantities is a tendering document that itemises the materials, parts, and labour costs for expenditure

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Question 13

Answer the following questions about principles underlying expenditure evaluation in building and construction projects.

  1. The Bill of Quantities is a tendering document that itemises the materials, parts, and labour costs for expenditure evaluation.
    List the four monetary provisions that must be included in a Bill of Quantities.
  2. In defining and evaluating a cost estimate as a predicted value, the prediction is based on certain key factors existing at the time of the estimate. Identify four of these factors.
  3. Cost engineers use the projected design, procurement, and construction S curves to draw the projected cashflow curve. Like most S curves, it is subject to some slippage to the right caused by schedule delays, late deliveries, and so on. How often must a cashflow projection be undertaken to minimise cost risks?
  4. List three activities that must be conducted when developing a bar chart for project expenditures for expenditure evaluation.

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