Oregon Construction Contractors (CCB) Practice Test

What document provides a complete and accurate estimate of project costs by listing major items of work performed in order?

1. Bid Sheet

2. Itemized summary

3. Work breakdown structure

4. Cost estimation report

The correct answer is: Itemized summary

The itemized summary is the document that provides a complete and accurate estimate of project costs by listing major items of work performed in a logical order. This summary details each component of the project, allowing stakeholders to see a breakdown of costs associated with specific tasks or materials required for the project. Having a clear itemized summary is crucial for effective project management and budgeting, as it helps in identifying where funds are allocated and in making adjustments when needed. This level of detail ensures that all significant aspects of the project are accounted for, thus facilitating transparency and better financial control throughout the duration of construction. While a bid sheet may provide an overview of bids submitted by contractors, it typically does not delve into the detailed breakdown of costs per item. A work breakdown structure organizes tasks into hierarchical levels but does not provide direct financial estimates. A cost estimation report compiles various data to estimate costs but may not present them in a detailed itemized format ordered by work performed. Therefore, the itemized summary stands out as the most effective document for stating estimated costs systematically and comprehensively.