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Questions and Answers
What is the purpose of construction cost estimating?
What is the purpose of construction cost estimating?
- To manage the legal aspects of construction projects
- To select the best construction materials
- To determine the number of workers required for a construction project
- To decide on a job’s feasibility, calculate a bid/quote, or create a project’s budget (correct)
What are the consequences of undervaluing the construction costs?
What are the consequences of undervaluing the construction costs?
- Improving business reputation
- Reducing profit margin
- Winning more bids
- Losing money (correct)
What can incorrect cost estimates do to a builder or construction company?
What can incorrect cost estimates do to a builder or construction company?
- Increase profit margin
- Improve project scheduling
- Destroy the business (correct)
- Enhance reputation
What does construction cost estimating consider?
What does construction cost estimating consider?
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How can estimating software benefit construction cost estimation?
How can estimating software benefit construction cost estimation?
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