WHY IS ESTIMATING IMPORTANT?

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It is practically impossible for the initial construction estimate to match the final project cost. However, this does not negate the usefulness of a comprehensive construction cost estimating.

It is practically impossible for the initial construction cost estimating to match the final project cost. However, this does not negate the usefulness of a comprehensive construction estimate. 

Estimating assists:

  • Project owners in determining the suitability and feasibility of a project
  • The builder’s ability to decide on the profit potential of a project.
  • The procurement team with the financing of the project.
  • The project team’s ability to make vital decisions on the design or materials could positively or negatively impact the project's cost.

The concepts that a cost estimator considers affect the total cost of the project. 

Therefore, it is imperative to have a set of data points that a cost estimator should investigate. These factors include materials, location, machinery, and labor. These are the apparent factors, but the estimator should also consider hidden factors such as the possible market fluctuations that affect the costs of materials. Digital Estimating also need to assess the project-specific materials as an eco-friendly building would need different materials than an ordinary building.

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