Questions and Answers
What is the primary focus of pre-tender cost estimation?
Forecasting the cost of a project during the planning and design stage
Who usually carries out pre-tender estimating on behalf of the client?
Consultant
What role does pre-tender cost estimation play for the client in terms of financing?
Assists to raise finance e.g., Bank loan
How does pre-tender cost estimation aid interested construction contractors?
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What is one of the key benefits of pre-tender cost estimation to the designer?
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What type of cost estimation technique uses project characteristics in a mathematical model to estimate project costs?
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Which cost estimation method relies on the actual costs of a previous or similar project for estimating current project costs?
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What is the main factor that determines the accuracy of Bottom-Up Estimating?
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Which type of estimate sums up costs estimated for individual work items to get a project total?
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What is the primary use of Computerized tools in cost estimation?
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