Which method is commonly used for cost estimating in construction?
Understand the Problem
The question is asking which method is commonly utilized in the construction industry for estimating costs. The options provided include various methods that pertain to cost estimation.
Answer
Unit Cost Estimating
The commonly used method for cost estimating in construction is the Unit Cost Estimating method, which calculates costs based on a standard unit of measurement.
Answer for screen readers
The commonly used method for cost estimating in construction is the Unit Cost Estimating method, which calculates costs based on a standard unit of measurement.
More Information
Unit Cost Estimating is widely used because it simplifies the process by focusing on standard measurements like per square foot or per unit of material, making it easier to standardize and compare costs.
Tips
A common mistake when employing Unit Cost Estimating is not accounting for all the variables such as labor, location, and material price fluctuations which can lead to underestimation.
Sources
- Construction Cost Estimating Methods - RSMeans - rsmeans.com
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