How much did you pick up?
The same ten questions from the start of the week — one answer each. When you mark it, we’ll show your score next to where you started.
What is an 'estimate' in construction?
Why: An estimate is a calculated, approximate price for carrying out a defined piece of work.
A 'tender' is...
Why: A tender is a formal offer submitted to win a contract, often in competition with others.
'Taking off' quantities means...
Why: Take-off is measuring how much material and labour a job needs, straight from the drawings.
Why add a 'contingency' to a price?
Why: Contingency is money set aside for the unknowns - the things that might change or go wrong.
'Overheads' in a price are...
Why: Overheads are the general running costs of the business, spread across all its jobs.
A 'bill of quantities' lists...
Why: A bill of quantities itemises the measured work so every bidder prices exactly the same thing.
What's the difference between a quote and an estimate?
Why: A quote is a firm, fixed price. An estimate is an approximate, best-guess figure.
'Margin' is...
Why: Margin is the profit added on top of what the work actually costs to do.
Pre-construction is the stage...
Why: Pre-construction covers all the planning, pricing and programming done before site work begins.
If you price a job too low, the biggest risk is...
Why: Price too low and you can win the job but lose money doing it - a classic estimating trap.
Nice start.
We’ll do the same quiz at the end of the week — you’ll spot the difference.
Done with the quiz?
Mark it complete and we’ll bounce you back to your Estimating dashboard with this stamp added to your punchcard. If you’d rather your buddy stamp it after a chat, just ask them on the day.