Oregon Construction Contractors (CCB) Practice Test

What type of estimate is prepared by an architect using cost models from previous projects?

1. Detailed Estimate

2. Conceptual Estimate

3. Unit Price Estimate

4. Appraisal Estimate

The correct answer is: Conceptual Estimate

The correct answer, conceptual estimate, is prepared during the early stages of a project when specific details are still being defined. Architects often rely on cost models from previous projects to create this type of estimate, as it provides a broad understanding of the expected expenses based on historical data. This approach allows architects and stakeholders to make informed decisions about budgeting and feasibility without the need for detailed drawings or specifications. Conceptual estimates are particularly useful for initial planning and discussions about project scope and budget, as they provide a framework for what costs might look like based on similar past endeavors. The reliance on previous data enables architects to deliver estimates that reflect realistic cost expectations, even at a stage where many variables are still uncertain. In contrast, other types of estimates, such as detailed estimates, require comprehensive project specifications and quantities, while unit price estimates involve breaking down costs into individual components. An appraisal estimate typically relates to an assessment of value rather than construction costs explicitly. Thus, the conceptual estimate stands out as the appropriate choice for this context.