According to the latest U.S. Consumer Price Index report, inflation rate in the United States has reached a 40-year high. This will affect all the business sectors, including the construction industry, highlighting the importance of mitigating inflation. Inflation cannot be ...
Category: Estimating & Costing
Estimating and costing in construction management is the calculation of quantities of materials, tools, equipments, labors etc. and cost associated with them.
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What are Hard Costs in Construction?
Hard costs in construction cost estimation are the costs of physical construction elements like foundations, superstructure, interior finishes, laborers, equipment, etc. They are the tangible costs in a construction project that are relatively easy to estimate. Hard costs in construction ...
Analogous Estimation Techniques
Analogous estimating is an estimation technique that uses the historical data of old projects to estimate the cost for similar new projects. Analogous estimation is also called top-down estimating and is used by project managers when there is limited information ...
How to Make Better Quantity Takeoffs?
Quantity takeoff in construction estimates the quantities for a contract from the drawings and construction plans to forecast the upcoming construction costs. An accurate quantity takeoff helps the team stay on budget while ensuring time management and effective cost tracking. ...
Avoid Common Budgeting Mistakes with Construction Software
As a construction project manager, your primary task is to oversee the scope, budget, and timeline. Making a mistake with your construction budget could result in your project being abandoned midway. To avoid such occurrences, you must adhere to the ...
What is the Cost of Asphalt Driveway Construction?
Asphalt is a common material used for driveway and pavement construction. Asphalt driveways are more durable and less expensive compared to concrete driveways. The cost of constructing an asphalt driveway varies with the region and the project specifications. This article ...
13 General Items of Work for Building Cost Estimation
We are all aware of the importance of estimation in any civil engineering work. The builder needs to have knowledge of the amount of work and the associated costs before taking up any project. It is also important to know ...
How Important is it to Prepare an Approximate Estimate?
Approximate estimate, also known as preliminary or rough estimate, helps to find out the approximate cost of a project in a very short time. Moreover, it enables the concerned authority to consider the financial aspect of the scheme to accord ...