Used primarily for the organization of conceptual estimates

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Reference no: EM132264523

1. The CSI Masterformat index system is used primarily for the organization of conceptual estimates.

True

False

2. According to AACE International, when a formal constructability review is combined with a thorough economic analysis, the final design is greatly enhanced, and the project is therefore less susceptible to cost and time growth resulting from change orders and claims.

True

False

3. In the reorder point system, which of the following is implied by a service level of 95%?

a. Approximately 95 percent of lead time demand is kept as inventory at reorder point.

b. Approximately 95 percent of inventory will be used during lead time.

c. With a 95 percent probability, the replenishment will arrive within the lead time.

d. With a 95 percent probability, demand during lead time will be less than the "reorder point".

4. Hierarchical breakdown of a project into cost elements or cost categories is referred to as:

Cost Breakdown Structure

Work Breakdown Structure

All of these answers are correct.

Price Breakdown Structure

5. Using the basic EOQ model, if the the holding cost doubles (other things remaining the same,) the order quantity would be

a. double its former value

b. half its former value

c. about 70% of its former value

d. unaffected

Reference no: EM132264523

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