L1: INTRODUCTION TO CONSTRUCTION ESTIMATION Flashcards
1
Q
What are the importance of accurate estimates in project success?
A
- Budgeting and Financial Control
- Stakeholder Confidence
- Risk Management
- Scope Management
- Performance Measurement
- Resource Planning
- Cost Control and Profitability
- Improved Communication
2
Q
What are the different types of estimates?
A
- Conceptual Estimation
- Preliminary Estimation
- Detailed Estimation
- Final Estimation
3
Q
What are the levels of Financial Detail?
A
- Conceptual estimates
- Design development estimates
- Bid estimates
4
Q
A
