CONSTRUCTIONS COST ESTIMATION
Estimation is necessary for predicting the cost of any Facility or structure under construction. Estimates are divided into designs Estimates and Control Estimates.
DESIGN ESTIMATES
- Design Estimates
- Engineer’s estimates (based on specifications and architectural plans).
- Preliminary cost estimates.
CONTROL ESTIMATES
- Budget cost estimate for financing purposes
- Budgeted cost after assigning to contractor but before construction
- Estimated cost of completion during on going construction
