Estimating and Costing
Being able to accurately predict the cost of a construction project is extremely important. Builders and subcontractors require this information to make decisions about budgets and scheduling, and the client needs the information to make decisions about the scope of the project or even whether to go ahead with it.
Providing a cost estimate is a process of anticipating and calculating the labour, materials and other costs associated with construction. Phrases like ‘ballpark figure’ or ‘rough estimate’ should never be used. The person doing the estimating and costing must take the time to consider all aspects and likely costs of the job, to produce an accurate cost estimate.
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