Practice Equipment Must Pay for Itself - 2.1 | 1. Planning Process of Equipment | Construction Engineering & Management - Vol 1
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Knowledge

2.1 - Equipment Must Pay for Itself

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Learning

Practice Questions

Test your understanding with targeted questions related to the topic.

Question 1

Easy

What is the Total Cost of Ownership?

💡 Hint: Think about all expenses involved in owning a piece of equipment.

Question 2

Easy

Why is it important for equipment to pay for itself?

💡 Hint: Consider how equipment impacts overall project costs.

Practice 4 more questions and get performance evaluation

Interactive Quizzes

Engage in quick quizzes to reinforce what you've learned and check your comprehension.

Question 1

What does 'equipment must pay for itself' mean?

  • It should be cheap
  • It must cover its costs from project savings
  • It's always a good investment

💡 Hint: Think about the reasons for investing in equipment.

Question 2

True or False: A contractor should own every possible piece of equipment for all tasks.

  • True
  • False

💡 Hint: Consider practicality regarding equipment ownership.

Solve 2 more questions and get performance evaluation

Challenge Problems

Push your limits with challenges.

Question 1

A construction contractor owns an older model excavator that costs $5,000 annually in maintenance. They are considering a new model that costs $10,000 but has lower operational costs due to better efficiency. Analyze whether they should keep the old model or switch.

💡 Hint: Focus on the overall cost comparison rather than just the initial purchase price.

Question 2

A specialized machine required for a project costs $300,000. The project has a contract value of $500,000, but other projects might arise. Discuss how the contractor should proceed in terms of procurement and future job consideration.

💡 Hint: Think about how multiple projects can distribute the cost of the equipment.

Challenge and get performance evaluation