Utah Contractor Practice Exam

Which estimating method is considered the most precise?

1. Bench mark

2. Quantity Take-off

3. Bid

4. Change Order

The correct answer is: Quantity Take-off

The quantity take-off method is regarded as the most precise estimating technique because it involves measuring and calculating all materials and labor needed for a project based on detailed project drawings and specifications. This method requires a thorough examination of the plans, leading to a systematic breakdown of each component, which allows for an accurate assessment of the quantities required. By taking precise measurements and carefully accounting for every element, this method minimizes the potential for errors and omissions, making it highly reliable. It serves as a foundational aspect of project estimation, providing a detailed basis that ensures all necessary materials and labor are accounted for in the project budget. In contrast, while benchmarks can provide useful data for comparisons, they don't deliver the same level of detail for specific projects. Bids typically rely on estimates and assumptions that can introduce variability, while change orders may result from unforeseen circumstances during a project and are not used as a primary estimating method but rather as adjustments to existing contracts. Consequently, the accuracy of the quantity take-off method stands out among the available options.