CELAW,1
A civil engineering firm agrees to complete a project for a fixed price of 105,177 php. If the project ends up costing the firm 90,383, how much profit does the firm make?
14,794
A project has a cost of 47,181 php. The fixed fee agreed upon is 5,573 php. What is the total amount that the client will be billed under the “Cost plus Fixed Fee” method?
Express your answers in whole number.
52,754
A civil engineering firm is working on a project with a total construction cost of 371,040 php. If the agreed percentage fee is 4.97%, what is the firm’s fee for their services?
Express your answers in 2 decimals
18,440.69
An engineer charges 3,367 php per hour for their services. If they worked 20 hours on a project and incurred 19,280 in reimbursable expenses, what would be the total billing to the client?
Express your answers in 2 decimals
86,620
Which method is most likely to result in a contractor absorbing cost overruns?
Fixed Price
Which billing method is most appropriate for a project with a clearly defined scope and minimal expected changes?
Fixed Price
In the context of civil engineering projects, which billing method is most susceptible to cost overruns due to unforeseen circumstances?
Cost Plus Fixed Fee
Which of the following methods requires the contractor to estimate the total project cost most accurately?
Fixed Price
In which billing method is the contractor's profit directly tied to the efficiency of completing the project under budget?
Fixed Price
Which of the following is a potential downside of the “Percentage of Construction Cost” billing method?
It may incentivize higher construction costs.
If a project is under-budget when using the “Fixed Price” method, the savings:
Are retained by the contractor as profit
Which billing method is typically the most transparent regarding actual project costs incurred?
Cost Plus Fixed Fee
When using the “Cost Plus Fixed Fee” billing method, the fixed fee is usually determined based on:
Total estimated project cost
Which billing method typically provides the contractor with the most incentive to control costs?
Fixed Price
Personal protective equipment is charged under the direct non-salary expense
True
The fixed price can be calculated as the sum of estimated engineering costs, contingencies, interest, profit, and percentage of estimated construction cost
True
For the Cost Plus Fixed Fee, this required both the clienteles to agree upon the scope of services
True
An 8am to 5pm regular working hour schedule is considered to fall under the Per Diem method of charging
False
A Civil Engineer's overhead expenses include taxes and insurance related to compensations
True
Civil Engineers in the government sector are entitled to the same minimum basic salary as those in the private sector
False
Civil Engineers regularly employed in the private sector are required to have a basic monthly salary that is atleast 10% more than the prevailing minimum wage in the region
False
Per Diem is usually utilized for long-term projects involving continuous personal services
True
The PICE Manual is a provision for the minimum compensation for Civil Engineers employed in foreign-assisted projects
True
Direct non-salary expenses are included separately in the hourly billing method
True