ContentsPart 1:...............................................................................................................................................1Importance for early cost estimates.............................................................................................1Factors for early stage..................................................................................................................2Market conditions which are:......................................................................................................3Material Pricing, Quality and availability...............................................................................3Part 2:...............................................................................................................................................4References........................................................................................................................................7
Part 1:Importance for early cost estimatesThe estimation of the construction cost is set with the higher accuracy with the proper planning of the project that is set with the financing. For this, the construction for the clients also need to work on the accuracy with the advice that is given to the sites for the acquisition and the commitment to build and enable to take all the important decisions for the construction of the project. The major determination is about identifying the status of the contractor and how the material price fluctuation is going to directly affect the costs. There are top five factors which include the political situation, fluctuation in the prices for the different materials, planning is poor with the previous experience with the contractor. (Dziadosz et al., 2015). It is important to focus on uncertainty patterns with the costs that needs to be incurred. This mainly reflects the series of the decision-making process. The project includes development planning where there are concepts, development, execution and the transfer.
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