5 Questions
What are essential tools for planning in the construction industry?
Cost estimation and budgeting.
When does Stonemark typically aim to prepare the first budget for a project?
At completion of the architect’s schematic design (SD) phase when the drawings are about 20% complete.
What key technique is used for cost planning in construction when the drawings are only 20% complete?
Augmenting the SD drawing set with a scope narrative.
Why is the initial budget essential for managing the design of the project?
It becomes an essential tool for managing the balance of the design to meet the owner’s budget requirements.
How is it possible to project the true cost of a project when the drawings are only 20% complete?
There are two ways to properly evaluate the construction cost of the project at this early phase.
Test your knowledge of budgeting and cost estimating methods and techniques in construction with this quiz. Explore essential tools and best practices for planning in the construction industry, focusing on preconstruction and construction project phases.
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