Civil Engineering - Engineering Economy - Discussion

Discussion :: Engineering Economy - Section 1 (Q.No.11)


The estimate based on a detailed quantity survey and furnishes the most accurate and reliable estimate possible is known as

[A]. Conceptual estimate
[B]. Definitive estimate
[C]. Probabilistic estimate
[D]. None of these

Answer: Option B


No answer description available for this question.

Gee said: (Oct 11, 2013)  
A definitive estimate is prepared from well defined data, specifications, drawings, etc. This category covers all estimate ranges from a minimum to maximum definitive type. These estimates are used for bid proposals, bid evaluations, contract changes, extra work, legal claims, permit and government approvals. Other terms associated with a Definitive Estimate include check, lump sum, tender, post contract changes. Etc.

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