Certified Pennsylvania Evaluator Practice Exam

What is calculated in the Quantity Survey Method?

1. The total amount of sales for similar buildings

2. The estimated cost of individual physical components and their assembly

3. The overall market value of a building

4. The cost of labor only for a construction project

The correct answer is: The estimated cost of individual physical components and their assembly

The Quantity Survey Method is a detailed approach to estimating the cost of a construction project by considering the estimated costs of individual physical components and their assembly. This method involves breaking down the project into its various parts, such as materials, labor, and equipment, and calculating the costs associated with each component. By assessing the quantities and quality of materials required as well as the necessary labor to assemble them, this method provides a comprehensive estimate of the overall cost of construction. This level of detail allows project managers and stakeholders to prepare accurate budgets and schedules, addressing any potential financial implications early in the planning process. The focus on physical components ensures that all aspects of the project are accounted for, which leads to more reliable cost management and resource allocation as the construction project progresses.