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The creation of an estimate requires the inclusion of the cost of labor, overhead, profit, and equipment. The construction documents will also play a major role in estimating. [3] Pre-construction services grew out of construction cost estimating to encompass the other activities in planning a project. [4]
A cost estimator will typically use estimating software to estimate their bid price for a project, which will ultimately become part of a resulting construction contract. Some architects, engineers, construction managers, and others may also use cost estimating software to prepare cost estimates for purposes other than bidding such as budgeting ...
Quantity take-offs (QTO) are a detailed measurement of materials and labor needed to complete a construction project. They are developed by an estimator during the pre-construction phase. This process includes breaking the project down into smaller and more manageable units that are easier to measure or estimate.
In cost modeling the estimator models the various parameters of the facility and applies costs to the derived scope. Building estimators or architects may use the Uniformat system of breaking down the building into functional systems or assemblies during the schematic design (SD) phase of planning and design. [36] The RSMeans Square Foot Costs ...
Cost engineering is "the engineering practice devoted to the management of project cost, involving such activities as estimating, cost control, cost forecasting, investment appraisal and risk analysis". [1] "Cost Engineers budget, plan and monitor investment projects.
Oakwood Schools Foundation has given $640,000 to the schools for pre-construction costs for the Flourish project, an official said. The Flourish plan for the 114-year-old building on Far Hills ...
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