The NCIDQ IDPX exam tests the designer’s understanding of cost estimation methods, particularly for FF&E (furniture, fixtures, and equipment). The question focuses on a method that considers costs over the entire lifespan of the items.

Option A (Actual costs):Actual costs refer to the real, incurred costs of a project, typically determined after expenses are recorded. This does not involve estimating future costs like maintenance and replacement.

Option B (Planned value):Planned value is a project management term related to earned value management, representing the budgeted cost of work scheduled. It does not specifically address FF&E maintenance and replacement costs over time.

Option C (Life-cycle costing):Life-cycle costing is the process of estimating the total cost of an item over its entire lifespan, including initial purchase, installation, maintenance, and replacement. This method is directly applicable to FF&E, as it ensures the designer considers long-term costs, not just the initial purchase price, making it the correct answer.

Option D (Cost-benefit analysis):Cost-benefit analysis compares the costs of a project or decision to its benefits, often to justify a project. While it may include some cost estimates, it is not specifically focused on the lifecycle costs of FF&E.

Verified Answer from Official Source:

The correct answer is verified from NCIDQ’s official study materials on FF&E cost estimation.

“Life-cycle costing involves estimating the total cost of FF&E over its lifespan, including installation, maintenance, and replacement, to inform budgeting decisions.” (NCIDQ IDPX Study Guide, FF&E Section)

The NCIDQ IDPX Study Guide defines life-cycle costing as the method for estimating the full cost of FF&E over time, which directly aligns with the question’s focus on installation, maintenance, and replacement costs. Option C is the correct term for this process.

Objectives:

Understand cost estimation methods for FF&E (NCIDQ IDPX Objective: FF&E).

Apply life-cycle costing to inform budgeting decisions (NCIDQ IDPX Objective: Project Management).