Construction Cost Estimating: Types and Purposes of Estimates

Did you know ‘opinion of probable cost’ does not mean the same thing as an estimation of cost? While this may be a term used by design consultants in the preliminary stages of a project’s estimate, this should not be mistaken for an estimation of cost. This is simply a professional opinion based on experience and available knowledge. The responsibility of a Contractor is to provide a detailed quantitative analysis of each material cost or step in the process for a given project. This interactive online course will educate you on the various types of estimates that can be provided as well as the methods to do so accurately.