Cost of Construction Management Project 2022

Construction management.1
Construction Management
by (Name)
The Name of the Class (Course)
Professor (Tutor)
The Name of the School (University)

Construction management.2
Abstract
The cost of a construction project can differ significantly from its preliminary
estimate due to the cost evaluation approach that the estimator chooses, and the
unstable nature of particular costs that are utilized in computing an initial estimate.
The problem of cost estimation is made even more tenuous by the fact that the
complete extent of the work, which might be necessary to complete a project is not
yet clearly defined at the initial stages of a construction project. This report studies
the phenomenon of cost variation, by considering the vast difference between the
estimated cost of constructing an apartment complex and its final cost.

Construction management.3
Contents
Abstract...................................................................................................................... 2
Introduction................................................................................................................ 4
Why variances occur............................................................................................... 4
Project scenario.......................................................................................................... 5
Preliminary estimation method.................................................................................. 5
How the preliminary estimation method was used.................................................5
Availability of information........................................................................................... 6
Assumptions made in the estimation.........................................................................7
Factors that might have impacted the accuracy of the preliminary cost evaluation. .7
Conclusion.................................................................................................................. 7
References.............................................................................................................. 9