CPB · Question #145
GCPI stands for Geographic Cost Practice Index.
The correct answer is A. TRUE. Option A is correct because GCPI does indeed stand for Geographic Cost Practice Index, a tool used in construction cost estimating to account for regional variations in labor, materials, and overhead costs. The index allows estimators to adjust baseline project costs based on…
Question
GCPI stands for Geographic Cost Practice Index.
Options
- ATRUE
- BFALSE
How the community answered
(61 responses)- A84% (51)
- B16% (10)
Explanation
Option A is correct because GCPI does indeed stand for Geographic Cost Practice Index, a tool used in construction cost estimating to account for regional variations in labor, materials, and overhead costs. The index allows estimators to adjust baseline project costs based on the specific geographic location where construction will occur, ensuring more accurate local pricing. Option B is incorrect simply because it denies a true statement - the acronym is correctly defined and widely used in cost engineering and construction management fields.
Memory tip: Break it down letter by letter - "G" for Geographic (where), "C" for Cost (how much), "P" for Practice (method), "I" for Index (a numerical scale) - geographic cost practice index describes exactly what it does: it indexes costs by geographic practice area.
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