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A building estimator or cost estimator is an individual that quantifies the materials, labor, and equipment needed to complete a construction project. Building cost estimating can concern diverse forms of construction from residential properties to hi-rise and civil works.
In project management (e.g., for engineering), accurate estimates are the basis of sound project planning. Many processes have been developed to aid engineers in making accurate estimates, such as Analogy based estimation; Compartmentalization (i.e., breakdown of tasks) Cost estimate; Delphi method; Documenting estimation results; Educated ...
For the same project, the range of uncertainty about the total estimate decreases over time, as illustrated in the cone of uncertainty diagram. High-quality cost estimates can be produced by following a rigor of 12 steps [17] outlined by the U.S. GAO. Detailed documentation is recommended to accompany the estimate. “The documentation ...
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.
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 ...
Typical project management issues (establishing liability, writing contracts, scoping estimates and schedule) or; Variation across different states' licensing laws or; Conflict of interest and ethical issues; It also imposes: Greater business and financial risks associated with architect taking on general contractor responsibilities
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