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200468- Construction Projects| Cost Estimation Techniques

Assignment 1 is a research write-up on factors affecting accuracy of early stage building cost estimates and a comparison of early stage building cost estimating methods.

9 Pages1596 Words77 Views
   

Western Sydney University

   

Building Surveying (200468)

   

Added on  2020-03-03

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The below report explains how various factors affect the accuracy of building cost estimating. The document also discusses the early cost estimations, Factors for early-stage building, and Marketing conditions that affect the factors. It also discuss two estimation techniques which are as Preliminary Estimating Technique and Elemental estimating technique

200468- Construction Projects| Cost Estimation Techniques

Assignment 1 is a research write-up on factors affecting accuracy of early stage building cost estimates and a comparison of early stage building cost estimating methods.

   

Western Sydney University

   

Building Surveying (200468)

   Added on 2020-03-03

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REPORT
200468- Construction Projects| Cost Estimation Techniques_1
ContentsPart 1:...............................................................................................................................................2Early cost estimates.....................................................................................................................2Factors for early stage building...................................................................................................2Market conditions which affect the factors:................................................................................4Material Price, quality & availability......................................................................................4Part 2:...............................................................................................................................................6References........................................................................................................................................9
200468- Construction Projects| Cost Estimation Techniques_2
Part 1:Early cost estimatesThe early cost estimates are for the construction projects that are set under the high degree of uncertainty. This is mainly due to the limited forms of the information that are for the accuracy of the cost estimates. Here, there is no variation when it comes from the exact costs and how the cost is incurred for the execution of project. (Al-Zwainy & Hadhal, 2016). The estimated amounthelps in the proper decision making with the implementation of the cost set at the later time. The importance of the preliminary is mainly due to the reference for the commencement of the project with reference for the next stage. The accuracy cost is important that works on the stages of project development.Factors for early stage building The costs estimation is based on forecasting the project costs and then work on the performance which is related to the amount of information which is for the detailed designing. Here, the pre-
200468- Construction Projects| Cost Estimation Techniques_3

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