|A cost estimate is the approximation of the cost of a program, project, or operation. The cost estimate is the product of the cost estimating process. Cost estimation in project management is the process of forecasting the financial and other resources needed to complete a project within a defined scope. Once the project is in motion, the cost estimate is used to manage all of its affiliated costs in order to keep the project on budget.|
Civil Designing Courses
Construction cost estimating is the process of forecasting the cost of building a physical structure. Of course, builders and clients both worry about the financial impact of cost overruns and failing to complete a project. That’s why they devote time and effort to estimating how much a project will cost before deciding to move forward with it. Clients considering large projects often seek multiple cost estimates, including those prepared by contractors and those calculated by independent estimators.
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