Estimating, Scheduling, and Project Management
Domain 9 - Estimating, Scheduling, and Project Management
This domain tests the business side of contracting: producing a defensible estimate, building a schedule that shows the real critical path, and managing changes, payments, and closeout without disputes.
Estimating
A detailed estimate starts with a quantity takeoff, then applies unit costs for material, labor, equipment, and subcontractors. Add general conditions, overhead, profit, contingency, escalation, and allowances. Conceptual or square-foot estimates are for early budgeting only. Read the bid documents, list exclusions and clarifications, and check scope gaps between trades.
Scheduling
The critical path method identifies the longest sequence of dependent activities; activities on that path have zero float, and a delay there delays completion. Activities with float can slip without affecting the finish date, up to the float limit. Update the schedule with actual progress, and use a short-interval look-ahead for coordination.
Project management
Use written contracts, submittals, RFIs, and signed change orders. Bill with a schedule of values, track retainage, and obtain lien waivers before payment. Connecticut's mechanic's lien statute requires strict, timely filing - generally within 90 days after last furnishing labor or materials - so keep notices and payment records. Closeout includes punch list, as-builts, warranties, and O&M manuals.
Worked example
A schedule shows electrical rough-in delayed 5 days on the critical path and landscaping delayed 5 days with 10 days of float. Only the electrical delay pushes completion; the landscaping delay is absorbed by float. An $8,000 change order with 15% overhead and profit is priced at $9,200. Approving the change verbally and paying the sub before a lien waiver creates two collection risks.
Traps
Using a square-foot number as a final bid; omitting general conditions; confusing float with slack in the whole schedule; performing extra work without a signed change order; paying before lien waivers; and missing the lien filing deadline.